Between 1998 and 2001, the federal budget was:
a. never in surplus.
b. in surplus about as often as it was in deficit.
c. in surplus.
d. never in deficit.
c
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In a natural monopoly, throughout the range of market demand
A) marginal cost is above average total cost and pulls average total cost upward. B) marginal cost is below average total cost and pulls average total cost downward. C) there are diseconomies of scale. D) average total cost is above marginal cost and pulls marginal cost upward.
Each of the curves plotted in the graph shown in the above figure is known as a
A) Laffer curve. B) Phillips curve. C) Keynesian curve. D) Lorenz curve.
The interest rate charged on a Eurodollar loan will be:
a. higher than the interest rate charged on a U.S. loan. b. lower than the interest rate charged on a U.S. deposit. c. essentially equal to the interest rate charged on a Eurodollar deposit. d. lower than the London interbank offer rate. e. lower than the interest rate charged on a U.S. loan.
In an economy consisting of two people producing two goods, it is possible for one person to have the absolute advantage and the comparative advantage in both goods
a. True b. False Indicate whether the statement is true or false