Governments run a balanced budget when
A) their debt is interest-free. B) transfer payments equal zero.
C) revenues equal spending. D) revenues exceed spending.
C
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The 2001-2007 economic expansion began when a change in Federal Reserve policy and other global conditions caused interest rates to drop and stay low
a. True b. False
Which of the following is an example of transitory income?
a. John's $30,000 per year salary as a junior high school science teacher b. Linda's $40,000 per month income from bond market investments c. Paul's $15 per week earnings from selling aluminum cans he collects from along the side of the road d. Ringo's $100 prize for winning a radio talk-show contest e. George's $6,000 per year earnings in his second job, moonlighting as a clerk in a video rental store
The following table shows the relationship between output and the total cost of production for a firm.OutputTotal Cost0$40016002760390041,04051,220This firm has a U-shaped
A. average fixed cost curve. B. total variable cost curve. C. total cost curve. D. marginal cost curve.
Interest rates are positive because
A) people prefer future consumption over current consumption. B) people prefer current consumption over future consumption. C) usury laws require rates to be very high. D) banks are not competitive.