If the federal government is running a budget surplus,
a. its expenditures must be greater than its revenues.
b. the supply of money will decline.
c. it will be able to reduce its outstanding debt.
d. the U.S. Treasury will have to borrow additional funds in order to cover the surplus.
C
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The top quintile's share of all income exceeds 50% in 2005
Indicate whether the statement is true or false
This graph depicts the demand for a normal good.
A shift from A to B in the graph shown might be caused by:
A. a decrease in the price of a substitute.
B. a decrease in the price of a complement.
C. an increase in the price of a complement.
D. an increase in the good's price.
If fixed cost at quantity (Q) = 100 is $130, then
a. fixed cost at Q = 0 is $0. b. fixed cost at Q = 0 is less than $130. c. fixed cost at Q = 200 is $260. d. fixed cost at Q = 200 is $130. e. it is impossible to calculate fixed costs at any other quantity.
In the perfectly competitive market, the labor supply curve faced by the individual firm is ________, while that of the market is ________.
A. perfectly inelastic; upward sloping B. perfectly inelastic; perfectly elastic C. perfectly elastic; upward sloping D. perfectly elastic; perfectly inelastic