Refer to the above figure. A budget deficit occurs when real national income is
A) Y3.
B) Y1.
C) Y2.
D) None of the above: cannot be determined given the information.
B
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The thrust of government fiscal policy is expansionary when:
(a) Expenditure and taxation are increased. (b) Government expenditure is reduced and taxation is increased. (c) Expenditure and taxation are decreased. (d) Government expenditure is increased and taxation is reduced.
Consumer would most likely true personal computers as products
The equilibrium of aggregate supply and aggregate demand represents the:
A. total of all goods and services produced in the major sectors of the economy. B. general price level of the economy with respect to goods and services households purchase. C. overall state of the national economy. D. All of these are true.
In pre-colonial Central America, the cocoa seed served as a medium of exchange. The use of cocoa seed for transactions was possible because it was:
A. generally accepted among the native Indians. B. not heavy and bulky. C. also suitable for eating. D. easy to grow.