During the 1990s,
a. tax revenues have decreased
b. budget deficits decreased substantially
c. sustained economic growth has increased both deficits and tax revenues
d. government spending has increased dramatically due to increased defense expenditures
e. the view in government, academe, and society that government can contribute to moderate social and economic ills has been persuasive
B
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The above figure shows the marginal social benefit and marginal social cost curves of chocolate in the nation of Kaffenia. At Kaffenia's efficient quantity of chocolate
A) total consumer surplus is zero. B) total producer surplus is zero. C) the sum of consumer surplus and producer surplus is zero. D) the sum of consumer surplus and producer surplus is maximized.
The cost-output elasticity can be written and calculated as
A) MC/AC. B) AC/MC. C) (AC)(MC). D) (AC)2(MC). E) (AC)(MC)2.
If the two countries are at points A and B in Figure 35.1 and do not trade, what is the total number of motorcycles produced per year?
A. 2,000. B. 3,000. C. 4,000. D. 1,000.
Countries that have a trade surplus have a:
A. negative net capital outflow. B. positive net capital outflow. C. positive foreign direct investment. D. positive net capital inflow.