When a government earns more than it spends in revenue, we say that it has a:
A. budget surplus.
B. budget deficit.
C. federal debt.
D. federal deficit.
A. budget surplus.
You might also like to view...
Costs borne solely by the individuals who incur them are
A) private costs. B) social costs. C) internality. D) common property.
The interdependence among oligopoly firms arises because: a. the products those firms produce are homogeneous
b. the products those firms produce are heterogeneous. c. entry barriers are low. d. a small number of firms produce a large share of industry output.
Wages of doctors tend to be higher than wages of bankers. Which of the following is a compensating differential explaining the difference in wages?
a. Doctors have the stress of being responsible for other peoples' lives while bankers do not. b. Doctors are on call to work nights and weekends, while bankers work traditional business hours. c. Doctors must pay for malpractice insurance in case they are sued for a mistake on the job. d. All of the above are compensating differentials.
The model predicts that a temporary increase in government purchases causes:
a. an increase in consumption. b. a reduction in gross investment. c. a reduction in real GDP. d. all of the above.