When a budget is not approved in time, _____
a. agencies operate on the basis of continuing resolutions
b. agencies operate on the basis of a budget resolution developed by budget committees
c. agencies tend to shuts down
d. the President can force Congress to act
e. agencies borrow from the Federal Reserve
a
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The annual colonial trade deficit (which equaled 20,000-40,000 pounds sterling in 1768-1772) was mostly financed by:
a. an outflow of specie. b. paper money. c. short-term credit from England. d. payments made by a few very wealthy colonists.
The economic reasons that underlie the shape of the aggregate supply curve are different from those that underlie the shape of the supply curve for a particular good
a. True b. False Indicate whether the statement is true or false
OPEC (Organization of Petroleum Exporting Countries) is an example of a cartel in the output market for petroleum. Major League Baseball could be considered a cartel in the __________ market for baseball players
Fill in the blank(s) with correct word
Assume the market in the graph shown with demand D and supply S1 is in equilibrium at a quantity of 5 units. Consumer surplus is:
A. $45. B. $9. C. $10. D. $5.