Nearly all of the budget deficits we had in the 1980s were
A. under $10 billion.
B. between $100 billion and $200 billion.
C. between $200 billion and $300 billion.
D. over $300 billion.
B. between $100 billion and $200 billion.
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A student is trying to decide whether to study for the upcoming exam or play video games. The optimal amount of time spent studying is:
a. where the total benefit of studying is equal to the total cost of studying. b. where the marginal benefit of studying is equal to the total cost of studying. c. where the marginal benefit of studying equals the marginal cost of studying. d. where the total benefit of studying equals the total cost of studying.
The table below pertains to Iowan, an economy in which the typical consumer's basket consists of 3 pounds of pork and 4 bushels of corn. Refer to Table 24-2. The cost of the basket in 2008 was
a. $108. b. $147. c. $160. d. $224.
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.
Public goods are nonrival in ________ and their ________ are nonexcludable.
A. production; benefits B. production; costs C. consumption; benefits D. consumption; costs