The private sector balance equals
A) saving minus investment.
B) net taxes minus government expenditures.
C) investment minus saving.
D) net taxes plus government expenditures.
E) saving plus investment.
A
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The table above shows the total product schedule for The X Firm. Decreasing marginal returns occur with the ________ worker because ________
A) 5th; the marginal product of labor for the 5th worker is less than the marginal product of the 4th worker B) 5th; the average product of labor is also declining C) 4th; output reaches is maximum D) 6th; output starts to decline E) 6th; the marginal product of labor is greater than the average product of labor
Which of the following is a characteristic of perfect competition?
a. easy entry into or exit from the market b. a small number of buyers c. a high degree of government regulation d. a differentiated product e. a high degree of collusion
To close a recessionary gap using fiscal policy, the government can _____
Fill in the blank(s) with the appropriate word(s).
Which of the following statements is true?
A. Most horizontal mergers are blocked by the government. B. Most U.S. industries are monopolies. C. The market structure of an industry frequently changes over time. D. Most U.S. industries are perfectly competitive.