If the government's expenditures are $1.5 trillion and its tax revenues are $2.2 trillion, the government is running a budget...
What will be an ideal response?
surplus of $0.7 trillion
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The extra amount of output a business can generate by adding one more hour of labor is called
A. marginal cost. B. labor input. C. marginal product. D. marginal revenue.
Refer to above figure. While selling exports it would also maximize its domestic sales by equating its marginal (opportunity) cost to its marginal revenue of $5. How much steel would the firm sell domestically, and at what price?
What will be an ideal response?
In the short run, the monopolistic competitive firm will charge a price equal to marginal cost
a. True b. False Indicate whether the statement is true or false
In the market for natural gas, a particularly mild winter will lead to: a. a decrease in the demand and an increase in both equilibrium price and quantity
b. an increase in the supply and an increase in both equilibrium price and quantity. c. an increase in the supply, a decrease in equilibrium price, and an increase in equilibrium quantity. d. a decrease in the demand and a decrease in both equilibrium price and quantity.