If the federal government balanced its budget, its tax revenues would be equal to its expenditures.
Answer the following statement true (T) or false (F)
True
A balanced budget occurs when government revenues are equal to government expenditures in a given time period.
You might also like to view...
It is easier to avoid state and local taxes than federal taxes.
A. True B. False C. Uncertain
In China prior to 1990, most residential buildings were dilapidated because:
a. people were not aware of maintenance and beautification techniques. b. the government did not encourage wastage of resources for such purposes. c. no one had a property right to a home. d. all the properties were inherited. e. the people had private property rights so they did not have an incentive to repair the houses.
If the interest rate is r (expressed as a decimal number), the present value today of $1 to be received n years from today equals ____.
A. $1rn B. $1(1 + r)n C. $1/(1 + r)n D. $1/(1 + n)r
A monopolistically competitive market
a. usually has too many firms, reducing the economic profit of each firm to zero. b. usually has too few firms, reducing the product variety for consumers. c. may have too many or too few firms, and the government can intervene to achieve the optimal number of firms. d. may have too many or too few firms, but the government can do little to rectify the situation.