If tax revenues equal 25 percent of total output and government expenditures equal 20 percent of total output, then there is a:
A. government budget deficit.
B. government budget surplus.
C. trade deficit.
D. trade surplus.
Answer: B
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The standard of living rises at a faster pace than labor productivity if
A) n = q. B) n < q. C) n > q. D) The standard of living is not affected by the relative size of n and q.
After reading Governor Bradford's account, which is the most accurate statement, given his experience?
a. He considered the problems in the colony to be rooted in the "sine and corruption" of selfishness. b. He agreed with Plato that goods held in a "commone wealth" would make the people "happy and flourishing." c. That assigning private plots of land "made all hands very industrious." d. That assigning private plots of land "for this communitie" caused "much confusion and discontent."
The ratio of the total amount of demand deposits at a bank to the amount kept as cash reserves is known as the:
A. reserve ratio. B. demand deposit ratio. C. demand-reserve ratio. D. federal funds rate.
Firms are highly likely to voluntarily engage in an efficient level of pollution abatement.
Answer the following statement true (T) or false (F)