The equation of exchange determines the supply of money in the economy.

The national debt is defined as the total

a. amount that U.S. citizens owe to foreigners. b. value that U.S. citizens borrow from foreigners during any time period. c. value of government's indebtedness at any moment in time. d. amount by which government's expenditures exceed receipts during any time period.

Both private goods and club goods are

a. rival in consumption. b. nonrival in consumption. c. excludable. d. nonexcludable.