Which of the following is true?
A) A budget surplus will increase the national debt.
B) A budget deficit will increase the national debt.
C) A budget deficit will reduce the national debt.
D) A balanced budget will increase the national debt.
B) A budget deficit will increase the national debt.
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If Synergy Energy Corp. hires attorneys to keep it informed about new regulations, their salaries represent
A. Compliance costs. B. Capital costs. C. Efficiency costs. D. Administrative costs.
Which of the following is not considered part of the productive resource, land?
a. raw materials. b. intellectual power. c. water resources. d. atmospheric conditions.
The more inelastic the demand for a product, the more the actual burden of a tax on the product will:
a. fall on sellers. b. fall on buyers. c. fall equally on both buyers and sellers. d. create a larger deadweight loss (or excess burden).
"Ceteris paribus" is a Latin expression that means "holding everything else constant."
a. True b. False Indicate whether the statement is true or false