Use the following data about the U.S. economy to answer question 22. Amount Security Treasury bills...

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Use the following data about the U.S. economy to answer question 22. Amount Security Treasury bills Car Treasury notes US wing bonds 22. Consider how the US government finances its public debt. The public debt for the US government is: A $460 billion. B. $660 billion. C. $500 billion. D. $800 billion 23. Which of the following are both legitimate (substantive) concerns of a large public debt? A. Bankruptcy of the Federal government, absolute size of the public debt B. The size of the public debt as a percentage of GDP, crowding-out of private investment created by government borrowing and higher interest rates C. Crowding-out of private investment created by government borrowing, absolute size of GDP D. Size of the public debt as a percentage of GDP, crowding-in of private investment caused by lower interest rates due to less government borrowing. 24. Payment of interest on the U.S. public debt: A substantially increases the current domestic standard of living in the United States. B. has no effect on the distribution of income C. is thought to decrease income inequality. D. is thought to increase income inequality 25 When economists say that money serves as a medium-of-exchange, they mean that it is: A a way to store wealth. B. a means of buying and selling goods and services. C. a monetary unit for measuring and comparing the relative scarcity (worth) of goods. D. declared as legal tender by the government 26. When economists say that money serves as a store of value, they mean that it is: A a means to store wealth. B. a means of payment C. a monetary unit for measuring and comparing the relative values of goods. D. declared as legal tender by the govemment. 27. Which of the following best describes the concept of liquidity! A The ease in which money (cash) can be converted into an asset, like land, with little or no loss in purchasing power. B. The ease in which as asset, like land, can be converted into money (cash) with little or no loss in purchasing power. C. The amount of time it takes to write a check and get your money. D. The ease in which near monies can be converted into bonds Use the following data about the U.S. economy to answer question 22. Amount Security Treasury bills Car Treasury notes US wing bonds 22. Consider how the US government finances its public debt. The public debt for the US government is: A $460 billion. B. $660 billion. C. $500 billion. D. $800 billion 23. Which of the following are both legitimate (substantive) concerns of a large public debt? A. Bankruptcy of the Federal government, absolute size of the public debt B. The size of the public debt as a percentage of GDP, crowding-out of private investment created by government borrowing and higher interest rates C. Crowding-out of private investment created by government borrowing, absolute size of GDP D. Size of the public debt as a percentage of GDP, crowding-in of private investment caused by lower interest rates due to less government borrowing. 24. Payment of interest on the U.S. public debt: A substantially increases the current domestic standard of living in the United States. B. has no effect on the distribution of income C. is thought to decrease income inequality. D. is thought to increase income inequality 25 When economists say that money serves as a medium-of-exchange, they mean that it is: A a way to store wealth. B. a means of buying and selling goods and services. C. a monetary unit for measuring and comparing the relative scarcity (worth) of goods. D. declared as legal tender by the government 26. When economists say that money serves as a store of value, they mean that it is: A a means to store wealth. B. a means of payment C. a monetary unit for measuring and comparing the relative values of goods. D. declared as legal tender by the govemment. 27. Which of the following best describes the concept of liquidity! A The ease in which money (cash) can be converted into an asset, like land, with little or no loss in purchasing power. B. The ease in which as asset, like land, can be converted into money (cash) with little or no loss in purchasing power. C. The amount of time it takes to write a check and get your money. D. The ease in which near monies can be converted into bonds