Which of the following statements about the public debt is TRUE?
A. It is equal to the budget deficit.
B. It is a stock variable.
C. It decreases when the government runs a budget deficit.
D. all of these
Answer: B
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Screening is an action taken by an uninformed party to induce an informed party to reveal information
a. True b. False Indicate whether the statement is true or false
To maximize net revenue, a price searcher should
A) set total revenue equal to total cost. B) set marginal revenue equal to marginal cost. C) set net revenue equal to zero. D) reduce output if marginal costs are increasing.
Based on the above production data table for Ken's Pizza Parlor, we know that the average product of labor curve begins to decrease after hiring worker ________
A) 1 B) 2 C) 3 D) 4
What is a free rider?
a) a person who will only purchase a product on sale b) a person who receives a benefit of a good but avoids paying for it c) a person who can produce a good at no extra cost d) a person who takes advantage of tax loopholes to lower his taxes