Higher productivity is the most direct route to higher living standards

Attempts to fine-tune the economy through shifts in fiscal and monetary policy

A) cannot alter the level of unemployment but may change the price level. B) may not do any good but certainly do no harm. C) produce greater stability, but only at the cost of an ever-increasing national debt. D) will increase rather than reduce instability if the policy makers lack adequate information.

Net public debt is equal to

A) the gross public debt minus current year tax revenue collection. B) the gross public debt minus taxes paid by foreign corporations on their profits made in the United States. C) the gross public debt plus all governmental interagency borrowing. D) the gross public debt minus all governmental interagency borrowing.