One of the common ways to fund a budget deficit is to:
a. borrow through the mutual funds market.
b. borrow through the equity market
c. borrow through the bond market.
d. borrow through credit unions.
c
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A country has an aggregate production function of the form: Y = A x K1/3 x H2/3
Which of the following is likely to happen if the capital stock and the efficiency units of labor available to the country increases by 10% over a span of 5 years while the state of technology used in the country remains the same? A) Output will increase by 5%. B) Output will double. C) Output will increase by 10%. D) Output will increase by 1%.
Lauren and Katy each bought a new bike lock for $20. Both Lauren and Katy would have paid $25 for the lock. The total consumer surplus for Lauren and Katy taken together equaled
A) $15. B) $10. C) $40. D) $20. E) $50.
If Bob earns $20,000 a year and pays $2,000 in taxes, and Cindy earns $40,000 a year and pays $4,000 in taxes, there is a _______________ tax in place.
A. progressive B. regressive C. proportional D. lump-sum
The productivity standard says
A) that everyone should have exactly the same income. B) that the age-earnings cycle should determine income. C) that people should be compensated on the basis of what they produce. D) that people should be compensated on the basis of their need.