________ is a budget philosophy prior to the Great Depression, aimed at matching annual revenues with outlays, except during war time
a. Annually balanced budget
b. Annual surplus budget
c. Biennial deficit budget
d. Biennially balanced budget
a
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Studies indicate that after the Civil War and up to the 1890s, farmers did not benefit from an improvement in their terms of trade between agriculture and manufacturing
However, they did benefit from a decline in transportation charges relative to farm prices. Indicate whether the statement is true or false
The persistent budget deficits of recent decades are
What will be an ideal response?
Which one of the following is not a possible barrier to entry high enough to keep competing firms out of a monopoly industry?
A) The monopoly firm has control of a key resource necessary to produce a good. B) There are important network externalities in supplying a good or service. C) large economies of scale that result in a natural monopoly D) a high concentration ratio
The speculative motive for holding money is closely tied to what function of money?
A) store of wealth B) unit of account C) medium of exchange D) standard of deferred payment