Recent U.S. budget deficits have arguably been financed by foreigners; if it were not for foreign __________ of Treasury securities, U.S. interest rate would be much __________

If you hear an economist argue that the economy does not experience business cycles but merely experiences variations in economic activity over time, you know that economist belongs to the school of

a. real business cycle theory b. Keynesian economics c. production possibilities growth theory d. accelerator cycle theory e. capital-based, long run growth theory

The critical feature of a monopsonistic labor market is that the employer:

A. has a perfectly elastic demand curve for labor. B. can hire any number of workers it chooses at the going wage rate. C. faces an upsloping labor supply curve. D. faces a perfectly inelastic labor supply curve.