Refer to the Article Summary. When does the Treasury Department borrow? Why would the Treasury have to borrow more than it estimated, as was indicated by its letter to Congress to raise the debt ceiling? When would the Treasury repay what it borrowed
, and who is it repaying?
When tax revenues are not sufficient to pay the federal government's bills, the Treasury borrows the necessary funds. The Treasury would need to borrow more than it estimated if the federal budget deficit is larger than was estimated. The Treasury would repay borrowed funds if the federal budget is in surplus, and it is repaying the investors who had bought its bonds.
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The table gives some data on the supply of roses in a small town. When the price rises from $15 a dozen to $25 a dozen, the elasticity of supply is ________
A) 1.25 B) 5.00 C) 0.20 D) 0.80
When costs that vary with the level of output are divided by the output, you have calculated:
a. total changing cost. b. total fixed cost. c. average fixed cost. d. average variable cost.