Which of the following is TRUE when a budget deficit exists?
A) Dissaving exists. B) Tax revenues exceed government expenditures.
C) A trade surplus exists. D) Government expenditures exceed tax revenues.
D
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Suppose an economist claims there are substitutes for wetlands. The person is saying
A) wetlands are of no value. B) wetlands are worth less than their substitutes. C) there is a cost to maintaining a wetland. D) there is a cost to maintaining a wetland, and it is necessarily too high. E) economists don't like wetlands.
You turn to the bond market page of a newspaper and look under the column headed "Net Chg" and see that it says, "-1/4" this indicates that
A) the closing price for the bond on this particular day was $2.50 lower than on the previous day. B) the closing price for the bond on this particular day is $0.25 lower than on the previous day. C) the yield for the bond has fallen by 0.25% compared to the previous day. D) the yield for the bond has fallen by 0.25% compared to exactly one year ago.
The United States imports garments from third world countries. This means that if the U.S. economy were closed, the domestic price of goods would be ________ the world price of garments.
A. close to B. less than C. greater than D. equal to
Refer to the graph shown. When price increases from $4 to $6, total revenue:
A. decreases from $200 to $150. B. increases from $200 to $250. C. increases from $150 to $200. D. decreases from $250 to $200.