If the government spends more than it receives in taxes during a given interval, then the result is
A. the gross public debt.
B. the net public debt.
C. a balanced budget.
D. a government budget deficit.
Answer: D
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Public utilities are either government-owned or government-regulated firms
a. True b. False
The United States is a net importer of capital. This means
a. that U.S. citizens own more foreign assets than foreigners own U.S. assets b. that citizens of other countries are buying more U.S. assets than U.S. citizens are buying foreign assets c. only that U.S. citizens own foreign assets d. only that foreign citizens own U.S. assets e. either that U.S. citizens own foreign assets or that foreign citizens own U.S. assets
Suppose Jess resigns from her low paying job. After looking for a new job for two weeks she is highly frustrated and gives up looking for a better-paying job. According to the U.S. Bureau of Labor Statistics, Jess would:
a. be considered as a part of the labor force. b. be considered employed. c. be considered temporarily unemployed. d. not be considered as a part of the labor force. e. be considered as seasonally unemployed.
The "big tradeoff" refers to
A) producing capital goods instead of consumable goods. B) marginal benefit versus marginal cost. C) efficiency and fairness. D) taking an economics course instead of some other course. E) using market prices rather than a command system to allocate resources.