What Is the Meaning of the Phrase: "The National Debt

question 110

Multiple Choice

What is the meaning of the phrase: "the national debt is also a national credit"?

• A)Only interest payments on the national debt constitute an economic burden.
• B)Official figures seriously understate the size of the national debt.
• C)What is owed must equal what is owned.
• D)The national debt is equal to the physical assets owned by the government.
• E)The national debt is a government debt held by the Bank of Canada and both of these are public institutions.

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Definitions:

Market Output

The total quantity of a good or service produced and sold by firms in a particular market.

Intertemporal Price Discrimination

A pricing strategy where prices are varied over time for the same product to exploit differences in willingness to pay.

Second-Degree Price Discrimination

A pricing strategy where prices vary according to the quantity consumed or the version of the product, without personal characteristics of the buyer influencing the price.

First-Degree Price Discrimination

A pricing strategy where a seller charges each buyer their maximum willingness to pay, capturing all consumer surplus.