When the U

question 111

Multiple Choice

When the U.S.Treasury issues new bonds to replace bonds that have matured,it is engaging in

• A)Debt refinancing.
• B)Debt servicing.
• C)Income transfers.
• D)Discretionary fiscal spending.

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Definitions:

Nonexcludable

A characteristic of a good or service that prevents the owner from effectively excluding others from using it, often associated with public goods.

Nonrival-in-consumption

A property of certain goods where one individual's consumption does not diminish the ability of others to consume the same good.

Public Good

An item or service made available to all societal members at no cost, regardless of profit, by either governmental bodies or private individuals or groups.

Common Good

A concept referring to either policies or infrastructure that benefit all members of a community or society.