A purely competitive firm will be willing to produce at a loss in the short run provided:
A. price exceeds marginal costs.
B. the loss is no greater than its marginal costs.
C. the loss is no greater than its total variable costs.
D. the loss is no greater than its total fixed costs.
Answer: D
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When tax revenues exceed the government's outlays, the budget
A) has a surplus and the national debt is decreasing. B) is balanced and the national debt is decreasing. C) has a deficit and the national debt is increasing. D) has a surplus and the national debt is increasing. E) None of the above because by law tax revenue cannot exceed the government's expenditures.
The interest rate on unsecured loans between banks is called the
A) discount rate. B) repurchase rate. C) T-bill rate. D) federal funds rate.
The national debt is unlikely to cause national bankruptcy because the federal government can:
a. All of the answers are correct. b. refinance its debt. c. raise taxes. d. print money.
If government is going to provide an environment for economic prosperity
What will be an ideal response?