When federal outlays exceed revenues, the budget is said to be in surplus
Indicate whether the statement is true or false
false
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The law of demand indicates that as the cost of an activity:
A. rises, the level of the activity may or may not increase depending on the individual. B. falls, less of the activity will occur. C. rises, less of the activity will occur. D. rises, more of the activity will occur.
Potential GDP is reached when
A) unemployment is zero. B) there is no cyclical unemployment. C) unemployment is above full employment. D) unemployment is below full employment. E) the natural unemployment rate equals zero.
Walter used to work as a high school teacher for $40,000 per year but quit in order to start his own painting business. To invest in his painting business, he withdrew $20,000 from his savings, which paid 3 percent interest, and borrowed $30,000 from his uncle, whom he pays 3 percent interest per year. Last year Walter paid $25,000 for supplies and had revenue of $60,000 . Walter asked Tyler the
accountant and Greg the economist to calculate his painting business's costs. a. Tyler says his costs are $25,900, and Greg says his costs are $66,500. b. Tyler says his costs are $25,000 . and Greg says his costs are $65,000. c. Tyler says his costs are $66,500, and Greg says his costs are $66,500. d. Tyler says his costs are $75,000 . and Greg says his costs are $41,500.
The present value model of investment states that an asset's current price should be equal to the:
A. Sum of the present values of all of its future payments or earnings B. Sum of all of its future payments or earnings times the number of years of its life C. Life of the asset times the present values of all of its future payments or earnings D. Present values of all of its future payments or earnings divided by its life in years