A constitutional balanced budget amendment would
A) require a majority vote of Congress to authorize spending increases.
B) require that the federal government maintain a balanced operating budget only.
C) require that federal expenditures equal revenues (excluding borrowing).
D) divide the federal budget into a capital budget and an operating budget.
C
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Explain why a single labor supply curve can have both a positive and negative elasticity
What will be an ideal response?
If a country adopts another country's currency, it is called
A) dollarization. B) a crawling peg. C) a dirty float. D) monetary order.
Who is most likely to be earning economic rent?
A. A landlord B. A postal employee C. Someone who lives in a rental apartment D. A major league baseball player
Which of the following is the formula used for computing an accounting profit?
A) accounting profits = total revenue - implicit costs B) accounting profits = total revenue - (implicit + explicit costs) C) accounting profits = total costs - total revenue D) accounting profits = total revenue - explicit costs