The portion of the public debt held outside federal agencies and the Federal Reserve is:
A. larger than the portion held by federal agencies and the Federal Reserve.
B. smaller than the portion held by federal agencies and the Federal Reserve.
C. equally split between U.S. and foreign lenders.
D. all held by foreign lenders.
A. larger than the portion held by federal agencies and the Federal Reserve.
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Refer to Figure 3-1. If the product represented is an inferior good, an increase in income would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
Refer to the given data. If Alpha and Omega each was producing at alternative B before trade, the gain from specialization and trade would be:
A. 30 tons of wheat.
B. 15 tons of steel.
C. 30 tons of steel and 30 tons of wheat.
D. 60 tons of wheat and 60 tons of steel.