The government sector balance is equal to net taxes ________ government expenditure on goods and services
If that number is ________, a government sector surplus is lent to other sectors; if that number is ________, borrowing from other sectors must finance a government deficit.
A) plus; positive; negative
B) minus; negative; positive
C) minus; negative; negative
D) minus; positive; positive
E) minus; positive; negative
E
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A monopolistically competitive firm shuts down in the short run if ________
A) marginal revenue equals marginal cost B) total revenues do not cover variable costs C) marginal revenue covers average fixed costs D) average total cost exceeds price
All of the following increase labor productivity except _________
A. the accumulation of skill and knowledge B. an increase in capital per hour of labor C. an increase in consumption D. the employment of a new technology
Along a linear demand curve, total revenue is maximized when demand is
a. elastic b. inelastic c. unit elastic d. perfectly elastic e. perfectly inelastic
The effect of a government subsidy in a market where a positive externality is present is:
A. to increase surplus. B. to increase efficiency. C. to make consumers internalize the external benefit. D. All of these statements are true.