If the amount of taxes > outlays
What will be an ideal response?
there is a SURPLUS
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The J-curve summarizes the phenomenon that occurs when import spending initially falls after a depreciation of a country's currency and then import spending later rises
Indicate whether the statement is true or false
If demand decreases and the price doesn't change, there will be
A. a surplus. B. neither a shortage nor a surplus. C. both a shortage and a surplus. D. a shortage.
The AS/AD model with sticky prices predicts that, in the long run, a reduction of the money supply results in:
a. lower prices and lower output. b. no change in prices and lower output. c. lower prices and no change in output. d. no change in prices or output.
What are royalties?
a. fees paid to celebrities for using their names b. fees paid to law firms and accountants c. a percentage of profits paid to the government d. a percentage of earnings paid for a franchise