The U.S. public debt:
A. refers to the debts of all units of government—federal, state, and local.
B. consists of the total debt of U.S. households, businesses, and government.
C. refers to the collective amount that U.S. citizens and businesses owe to foreigners.
D. consists of the historical accumulation of all past federal deficits and surpluses.
D. consists of the historical accumulation of all past federal deficits and surpluses.
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According to the monetarists, when the expected rate of inflation rises, the short-run Phillips curve
a. shifts upward. b. shifts downward. c. is unaffected. d. None of the above
A benefit of deductibles and health savings accounts is that they
A) reduce the moral hazard problem associated with third-party payers. B) increase the quality of health care. C) reduce the use of expensive techniques for hopeless cases. D) reduce the incomes of physicians.