Answer the following statements true (T) or false (F)
1. Unlike corporate debt, national debt possesses no productivity aspect.
2. Interest on the U.S. national debt adds to the federal deficit.
3. The U.S. Treasury often sells new bonds in order to raise money to pay off maturing bonds.
4. As a percentage of GDP, the U.S. national debt held by the public is larger than in any major European country.
1. FALSE
2. TRUE
3. TRUE
4. FALSE
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The short-run Phillips curve suggests that ____ rates of unemployment can be traded off for ____ rates of inflation
a. lower; higher b. greater; relatively high c. less; relatively low d. less; relatively high
The imposition of price ceilings on a market often results in
a. an increase in investment in the industry. b. a persistent surplus in the market. c. an increase in expenditures in the black-market. d. lower prices being offered on the black market.