In 2011, federal government receipts were approximately
a. $4,000 per person and federal government spending was approximately $8,000 per person, resulting in a budget deficit.
b. $8,000 per person and federal government spending was approximately $12,000 per person, resulting in a budget deficit.
c. $12,000 per person and federal government spending was approximately $8,000 per person, resulting in a budget surplus.
d. $8,000 per person and federal government spending was approximately $4,000 per person, resulting in a budget surplus.
b
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Caren is willing to sell cakes at $5 per piece. The market price of each piece of cake is $10 . The producer surplus received by Caren from the sale of each piece is $10
a. True b. False Indicate whether the statement is true or false
Which of the following is not correct?
a. Welfare is a broad term that includes a variety of government programs designed to help poor people. b. Since the early 1970s, welfare benefits adjusted for inflation have increased, as has the percentage of children living with only one parent. c. Critics of welfare programs argue that they can create incentives for unmarried women to have children. d. Supporters argue that welfare doesn't cause the decline of two-parent families.
Refer to the given diagram. Suppose an economy's consumption schedule shifts from C 1 to C 2 as shown in the diagram. We can say that its:
A. MPC has increased, but its APC at each income level is unchanged.
B. APC at each income level is increased, but its MPC is unchanged.
C. MPC and APC at each income level have both increased.
D. MPC and APC at each income level have both decreased.
Which of the following banned most proprietary trading by commercial banks?
A) Consumer financial Protection Bureau B) Regulation Q C) Greenspan rule D) Volcker rule