If government debt is an external debt, the debt burden cannot be passed on to future generations

Substitution bias occurs because the CPI ignores the possibility of consumer substitution toward goods that have become relatively less expensive

a. True b. False Indicate whether the statement is true or false

Market failure occurs when

A) a good is too expensive for the market to provide. B) an unrestrained market economy leads to too few or too many resources going to a specific economic activity. C) one good is superior to another and drives it out of the market. D) the stock market experiences a very large loss.