Which of the following is the best measure of the total amount that the federal government owes to private owners of U.S. Treasury securities?
A) the government budget deficit B) the gross public debt
C) government interagency borrowing D) the net public debt
D
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An increase in nominal GDP (with inflexible prices) results in:
a. an increase in the nominal rate of interest. b. an increase in the U.S. dollar exchange rate. c. a decrease in the nominal rate of interest. d. increased price and wage flexibility.
Which of the following explains why frictional unemployment exists in an economy?
A) It arises because job search is completely a supply side phenomenon in the labor market, and firms make no attempts to advertise for the vacancies they have. B) It arises because most of the workers shirk at work. C) It arises because it takes time for an unemployed worker to find a firm with a well-matched job vacancy. D) It arises because unemployment benefits encourage workers not to look for jobs.