An indifference curve will become ________ the origin the more that the consumer considers the two goods as substitutes
A) less bowed-in towards
B) more bowed-in towards
C) less bowed-out from
D) more bowed-out from
A
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Long-run aggregate supply is
A) the possible combinations of real GDP and inputs after full adjustments have been made. B) the extraction of natural resources. C) the real production of goods and services after full adjustments have been made. D) all of the physical and human resources in the economy.
Which of the following statements about the national debt has the most validity?
a. Our large national debt can bankrupt the nation. b. If only Americans hold the debt, then payments of interest and principal are simply transfers from some Americans to other Americans. c. Our large national debt can lead to subjection by the people (especially foreigners) who hold the debt. d. The national debt represents a burden to future generations who will have to make huge payments of interest and principal.