The idea that a large national debt is "mortgaging the future of our children and grandchildren" is misleading because:
a. it is the Federal Reserve that will be responsible for making interest payments on the debt.
b. future generations will have to bear the opportunity costs of the resources that are used today.
c. future generations will not be liable for the interest obligations of the national debt.
d. future generations will inherit the interest income as well as the interest obligations.
d
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Negative supply shocks can have a tendency to ________ costs of production and ________ the inflation rate
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
When import quotas are imposed by a government
A) the domestic producers always lower the prices of their products to ensure that their products are sold. B) the government is trying to discourage consumers from buying foreign-made goods. C) the supply of the product on the domestic market increases. D) the price ceiling for the product has to be lowered.