When government outlays exceed tax revenue, the situation is called a budget
A) with a negative balance.
B) deficit.
C) surplus.
D) debt.
E) with no balance.
B
You might also like to view...
What are the factors that determine the amount of money an individual desires to hold?
What will be an ideal response?
It has been argued that a monopolistically competitive industry involves "waste" because
A) there is too much product differentiation making shelves too crowded. B) they end up producing to the right of the minimum of the average total cost curve and the price is below the marginal cost. C) the firms do not equate marginal cost to marginal revenue to find the profit maximizing price and output. D) the firms do not produce at the minimum of the average total cost curve and price is above marginal cost.
The above figure shows a consumption function and a 45-degree line. Real consumption is a function of disposable income
Why is real GDP used here instead? What is measured along the vertical axis? What is measured by point B? Explain the significance of point A.
Unions can increase their wage rates by
a. all of the following b. decreasing the supply of labor c. using the threat of a strike d. increasing the proportion of union workers in the industry e. increasing the demand for the product they produce and, therefore, the demand for their labor services