Gross federal debt held by the public is equal to
A) total gross federal debt.
B) the federal debt held by the Fed minus the federal debt held by other countries.
C) the federal debt held by other countries plus the federal debt held by private investors.
D) the federal debt held by the Fed plus the federal debt held by private investors.
D
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Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 3.1 shows how much of each good Jesse and April can paint in one hour. Jesse's opportunity cost of painting one kite is painting
A) 1/12 of a snowboard. B) 1/8 of a snowboard. C) 1/3 of a snowboard. D) 3 snowboards.
Assume both the marginal cost and the average variable cost curves are U-shaped. At the minimum point on the AVC curve, marginal cost must be: a. greater than the average variable cost. b. less than the average variable cost
c. equal to the average variable cost. d. at its minimum.