If there is a federal budget surplus, then government revenues are greater than its expenditures.
Answer the following statement true (T) or false (F)
True
Economics
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An individual deciding how to allocate her limited time is dealing with both scarcity and trade-offs
a. True b. False Indicate whether the statement is true or false
Economics
Cutthroat competition is on the opposite end of the competitive spectrum from
A. covert collusion. B. price leadership. C. open collusion. D. cartels.
Economics
A monopolist's profit per unit is shown by the difference between price and marginal cost per unit
a. True b. False Indicate whether the statement is true or false
Economics
In general, a change in the price of a good:
A. causes a substitution effect only. B. causes an income effect only. C. causes both an income and substitution effect. D. usually has no effect.
Economics