The government's budget deficit or surplus equals the...
a) change in outlays divided by change in revenue
b) average outlay divided by average revenue
c) change in revenue minus change in outlays
d) total tax revenue minus total government outlays
d) total tax revenue minus total government outlays
You might also like to view...
If protective import-restricting tariff are imposed by a country, in the majority of cases that nation's consumers end up
A) paying a lower price and consuming more of the good than they otherwise would. B) paying a lower price and consuming less of the good than they otherwise would. C) paying a higher price and consuming less of the good than they otherwise would. D) paying a higher price and consuming more of the good than they otherwise would.
Which set of prices would you expect to see (posted, quoted) in a barter economy?
A) 1 horse = 10 pieces of gold; 1 kettle = 1 piece of gold B) 1 horse = 10 kettles; 1 kettle = 1/10 horse C) 1 horse = $200; 1 kettle = $20 D) 1 horse = 10 kettles; 1 kettle = 10 apples; 1 apple = 1 orange E) b and d
U.S. imports involve an:
A. outflow of foreign currency from the United States to foreigners. B. outflow of dollars from the United States to foreigners. C. inflow of foreign currency from foreigners to the U.S. economy. D. inflow of dollars from foreigners to the U.S. economy.
Recall the Application about the price competition between satellite and cable TV services to answer the following question(s).According to the Application, the reason why the consumer surplus still increases as cable prices rise after satellite TV service is introduced in an area with cable TV service, is:
A. the quality of services improves and is larger than the increase in the price of cable services. B. the quality of services improves and is smaller than the increase in the price of cable services. C. the tax revenues that the government receives is larger than the price increase. D. the tax revenues that the government receives is smaller than the price increase.