In 1990-1991, the government budget deficit ________ mainly due to the ________
A) rose, recession's effect on tax collection
B) rose, expenditures of the Persian Gulf War
C) fell, recession's effect on government expenditures
D) fell, economic stimulus provided by the Persian Gulf War
A
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Tiffany needs to assess the market risk in order to decide when to launch a new product. He decides to delegate the task of risk assessment to Joe who is a competent employee of the firm. Which of the following conclusions can be drawn from this?
a. Joe has the required tools and resources to carry out the order. b. Joe is above Tiffany in the hierarchy of this firm. c. The chances that Joe's assessment will be accurate are very high. d. Tiffany is well equipped to analyze the information he passes on to Joe.
Every time you make a __________, you incur a(n) __________
A) decision; efficient effect B) choice; opportunity cost C) competitive move; price D) decision; mistake E) none of the above
A perfectly competitive ebook publishing firm currently sells its ebook at the market price of $6. Its average total cost is $5.50. In this case:
a. since average total cost is less than the price, the firm will shut down. b. the firm has positive economic profits. c. the firm is losing money but will continue to operate. d. the firm has zero economic profits.
How can inventions such as cellular phones affect the government's antitrust policies?
(A) The technology causes the need for stricter regulation than before. (B) Government rules can allow higher charges than competition. (C) People using the technology do not want antitrust regulations. (D) They can mean that the need for regulation no longer exists.