When a government must operate on a balanced budget, it means that there is no ________ or ________
A) unemployment; special taxes B) surplus; deficit
C) bonds being issued; purchased D) borrowing; printing of money
B
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A person who is willing to bear more risk will buy
A) common stock. B) preferred stock. C) bonds. D) government bonds.
Firms in perfectly competitive markets take the ______ as given when deciding how much to sell.
A. market quantity B. lowest prices C. market prices D. input prices
As new firms enter a monopolistically competitive market, product differentiation becomes less pronounced
Indicate whether the statement is true or false
One problem for economic stability is that in a period of inflation
a. banks will be tempted to increase lending in order to increase profits. b. banks will be tempted to decrease lending in order to increase profits. c. profit-oriented banks will tend to hold excess reserves and decrease the money supply. d. deposits will decrease and banks will have to reduce lending.