When the government's spending is less than tax revenue, it implies that:
a. the government budget is balanced.
b. the government is running a deficit.
c. there is a budget surplus.
d. there is a higher chance of default by the government.
e. the government needs to borrow from the central bank.
c
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A strategy that is best for a player regardless of the strategy of the other player is called a(n)
a. subsistence strategy b. determinant strategy c. dominant strategy d. independent strategy e. autonomous strategy
The accompanying table shows a pizzeria's fixed cost and variable cost at different levels of output. Pizzas sell for $20 each.Number of Pizzas Per DayFixed Cost ($/Day)Variable Cost ($/Day)050002550015050500250755004501005008501255001,650 When the pizzeria makes 100 pizzas per day, it earns an economic ________ of ________.
A. loss; $500 B. loss; $650 C. profit; $650 D. profit; $1,150
Japan, Germany, France, Britain, and the United States meet to try to coordinate their economic policies. This informal association is called:
A. the Group of Five. B. the OECD C. the IMF. D. the WTO.
Why did the Kyoto Protocol have only a small impact on overall global greenhouse-gas emissions? Which two countries missed their targets by the largest amounts?
What will be an ideal response?