Chapter 13 Review Questions

Chapter 13 Review Questions - Review Questions Chapter 13...

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Review Questions Chapter 13 Multiple Choice ____ 1. When the U. S. federal government runs a budget deficit, it borrows money by selling: a. Treasury bonds. b. publicly owned land. c. its gold reserves. d. financial assets located in foreign banks. ____ 2. The total accumulated debt of the federal government due to deficit spending that has not yet been repurchased by the U.S. Treasury is called the: a. federal deficit. b. Congressional debt. c. deficit debt ceiling. d. national debt. ____ 3. Which of the following statements is true? a. The national debt is excess of government expenditures over tax collections in a given year. b. Deficits are financed by the government selling bonds. c. The national debt ceiling refers to the amount of debt at which the government is officially declared as being bankrupt. d. Internal national debt is the portion of the national debt owed to foreigners. ____ 4. Which of the following statements is true? a. The national debt as a percentage of GDP is greater today than during any other period in our nation's history. b. A sizeable external national debt will transfer purchasing power away from foreigners to domestic citizens. c. The national debt was paid off in 1980. d. U.S. national debt has more than tripled since 1980. ____ 5. Which of the following is true if all the national debt were “internally held?” a. The federal government would not need to refinance the national debt. b.
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This note was uploaded on 04/02/2008 for the course ECON 211 taught by Professor Keithpaulson during the Spring '08 term at ASU.

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Chapter 13 Review Questions - Review Questions Chapter 13...

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