When government spending is equal to the tax revenues during a specific time period, this is known as a
A. government budget deficit.
B. government budget surplus.
C. balanced budget.
D. public debt.
Answer: C
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The above table gives techniques Jitters Coffee Company can use to package 5,000 pounds of coffee. Which technique(s) is (are) technologically inefficient?
A) A B) C C) B and C D) B, C, and D
If the interest rate rises, then firms' investment spending:
a. falls. b. also rises. c. remains unchanged d. reacts unpredictably.
Economic profits are: a. less than accounting profits if implicit costs are greater than zero. b. less than accounting profits even if implicit costs are zero
c. greater than accounting profits if implicit costs are greater than zero. d. greater than accounting profits even if implicit costs are zero.
The traditional view of competitive price-searcher markets holds that this type of market structure is inefficient because
a. there are too few firms to reach an efficient level of competition. b. barriers to entry are high. c. excessive advertising is encouraged. d. consumers are not allowed a sufficient amount of choice in which to express their individual preferences.