Which of the following U.S. Treasury securities represents ownership of the national debt?
a. Bonds owned by the banks and insurance companies.
b. Bonds owned by private individuals.
c. Bonds owned by foreigners.
d. All of these.
Question 2
An exchange rate is the number of units of:
a. a nation's money that is equal to one unit of another nation's money.
b. a nation's output that is equal to one unit of another nation's output.
c. gold backing a nation's money.
d. none of these.