The structural deficit is equal to expenditures
a. plus transfers less taxes for the fiscal year in government statistics.
b. less taxes at some hypothetical high employment level.
c. plus transfers less taxes at some hypothetical high employment level.
d. less transfers for the fiscal year in government statistics.
c
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Which of the following will most likely cause movement along the consumption function?
a. a change in disposable income b. a change in interest rates c. a change in tastes d. a change in consumers' expectations
Each of the following would decrease the supply of U.S. dollars, shifting the supply curve for dollars to the left, EXCEPT:
A. a decreased preference for foreign-made goods. B. a decrease in the real interest rate on foreign assets. C. a depreciation of the U.S. dollar relative to other currencies. D. a decrease in U.S. real GDP.
Which of the following would cause the present optimal extraction level of a nonrenewable resource to fall?
A. An increase in the present value of expected future profits. B. A decrease in extraction costs. C. A decrease in user costs. D. An increase in the current price of the resource.
In the long run, a perfectly competitive firm maximizes profit so P = MC = AC.
Answer the following statement true (T) or false (F)