It is normal and typical in a debt crisis for debtors to completely repudiate all their debts

George is debating whether to concentrate on playing professional football or professional baseball. He is offered $6 million a year to play baseball and $7 million a year to play football. If he chooses to play football

A) the economic rent in his salary is $7 million. B) the economic rent in his salary is $6 million. C) the economic rent in his salary is $1 million. D) the economic rent in his salary is $13 million.

The new term introduced in the extended IS-LM model is

A) risk premium. B) nominal interest rate. C) taxes. D) G.