For the federal deficit to be lowered
A) the Federal Reserve must reduce the money supply.
B) the federal government must decrease its spending and increase net exports.
C) the federal government's expenditures must be lower than its tax revenue.
D) the Federal Reserve must raise interest rates and lower the required reserve ratio.
C
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The more elastic the demand facing a firm,
A) the higher the value of the Lerner index. B) the lower the value of the Lerner index. C) the less monopoly power it has. D) the higher its profit.
In a nutshell, what explains the chronic problem that farmers face in the United States? a. Farmers cannot produce sufficient quantities of food to keep up with the growing demands of consumers
b. There has been misuse of the price floor mechanism. c. An increase in the number of farms created agricultural overpopulation. d. Farmers have failed to adapt new technology in an ever-increasing technological world. e. The outward shift in the supply curve of the farm goods they produce has been greater than the outward shift in the consumers' demand curve for those goods.
The country of Meditor, a small country with a closed economy, uses the merit as its currency. Recent national income statistics showed that it had GDP of $600 million merits, no government transfer payments, taxes of $150 million merits, a budget surplus of $40 billion merits, and investment of $100 billion merits. What were its consumption and government expenditures on goods and services?
a. $460 million merits and $150 million merits b. $310 million merits and $190 million merits c. $350 million merits and $190 million merits d. $390 million merits and $110 million merits
The motivations of buyers & sellers & their negotiation abilities have __________ in the price formation process
Fill in the blank(s) with the appropriate word(s).