If the government spending increases without an equal increase in taxes, the government must borrow funds in the financial markets
Indicate whether the statement is true or false
TRUE
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What is "rent seeking"? How does it apply to restricting imports?
What will be an ideal response?
Based on the figure above, the price of a can is $8; if the price increased to $12, then the firm would
A) produce zero cans. B) decrease the amount of cans produces it but not to zero. C) not change the amount of cans it produces. D) increase the amount of cans it produces. E) More information is needed to determine what action the firm will take.
The statistical discrepancy is
a. also known as the "errors and omissions term." b. the amount that must be added to balance the total balance of payments to make it equal to zero. c. the adjusted amount to balance the capital account. d. the adjusted amount to balance the current account. e. Both a and b
Give an example of a trade-off faced by society