Government saving is equal to
A) net taxes.
B) net taxes minus government expenditures.
C) net taxes plus government expenditures.
D) private savings minus government expenditures.
E) the quantity of investment demanded.
B
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With which country did the Debt Crisis of the early 1980s begin?
A) France B) Mexico C) Argentina D) Japan E) Germany
A sidewalk runs across Jermichael's front yard near the street. By law, anyone has the right to use the sidewalk. When Jermichael shovels the sidewalk after a heavy snowstorm,
a. he is providing a good that is excludable. b. he is a free rider. c. those who walk on the sidewalk are using a club good. d. he is providing a good that is not rival and not excludable.
Exhibit 15-3 Potatoes and wheat output (tons per day) CountryPotatoes Wheat United States4 2 Ireland3 1 In Exhibit 15-3, the United States has an absolute advantage in producing:
A. potatoes. B. wheat. C. both. D. neither.
A decrease in the demand for soft drinks due to changes in consumer tastes, accompanied by an increase in the supply of soft drinks as a result of reductions in input prices, will result in
A) a decrease in the equilibrium quantity of soft drinks and no change in the equilibrium price. B) a decrease in the equilibrium price of soft drinks and no change in the equilibrium quantity. C) a decrease in the equilibrium price of soft drinks; the equilibrium quantity may increase or decrease. D) an increase in the equilibrium quantity of soft drinks; the equilibrium price may increase or decrease.