According to Okun's law, an increase in the unemployment rate will cause ________ in the level of employment and ________ in the level of output

If steel manufacturers expected that the price of steel was going to rise in the next six months, this would

a. have no change in the competitive market for steel b. lead to a decreased demand for steel c. lead to a decreased supply of steel d. increase the future demand for automobiles e. lead to a decrease in the quantity of steel supplied to the market

The national debt is owed to which of the following?

a. The Federal Reserve system b. Investors who buy U.S. Treasury bills, bonds, and notes c. Federal government workers d. Taxpayers