A budget surplus can be used to cut taxes or pay off old debt.
Answer the following statement true (T) or false (F)
True
There are four potential uses for a budget surplus: spend it on goods and services, cut taxes, increase income transfers, or pay off old debt.
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The Coinage Act of 1792
a. designated both gold and silver as the monetary standard for the U.S. b. designated gold as the monetary standard for the U.S. c. designated silver as the monetary standard for the U.S. d. designated paper Treasury notes as the monetary standard for the U.S.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
When one observes consumption and investment patterns over time, one finds that:
A. like consumption, investment is fairly stable over time. B. like consumption, investment is fairly erratic over time. C. unlike consumption, which is fairly stable over time, investment is subject to erratic fluctuations. D. unlike consumption, which is subject to erratic fluctuations, investment is fairly stable over time.
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. One of the reasons why Country A and Country B are not realistic representations of actual countries is:
A. the production possibilities curves are straight lines; realistic ones would be concave. B. they only represent two countries. C. they only represent the production of two goods. D. All of these statements are true.