In contrast to Argentina in 2001, the United States debt is less of a burden because the U.S. debt is
A. an obligation to pay over a longer period of time.
B. owed entirely to U.S. citizens and banks.
C. an obligation to pay in domestic currency.
D. an obligation to pay in foreign currency.
Answer: C
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Which of the following is the most accurate statement about a production possibilities curve? a. An economy can produce at any point inside or outside its production possibilities curve
b. An economy can produce only on its production possibilities curve. c. An economy can produce at any point on or inside its production possibilities curve, but not outside the curve. d. An economy can produce at any point inside its production possibilities curve, but not on or outside the curve.
Which of the following is correct? When the expected amount supplied exceeds the expected amount demanded, then:
a. Inventories rise, unemployment tends to rise, and prices tend to fall. b. Inventories rise, unemployment tends to fall, and prices tend to rise. c. Inventories fall, unemployment tends to rise, and prices tend to rise. d. It is impossible for these two to be unequal. e. You are mixing apples and oranges. These two macroeconomic variables should not be compared.