The amount of the structural deficit is equal to the amount of tax revenue received minus federal expenditures for the current fiscal year.
Answer the following statement true (T) or false (F)
False
Tax revenues received minus federal expenditures are equal to the entire federal budget deficit. Tax revenues received minus federal expenditures at full employment are equal to the structural deficit or structural surplus. The budget balance includes both cyclical and structural components.
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Suppose that utility over consumption and leisure takes the constant elasticity of substitution form 
. If 
falls between 0 and -1, then the labor supply curve is backward bending.
Answer the following statement true (T) or false (F)
Economic choices or tradeoffs are the result of: a. human greed
b. scarcity. c. poverty. d. private ownership of resources.
Christine is an artist who creates custom cookie jars. Her annual revenue from selling the cookie jars is $90,000 . The annual explicit costs of the materials used to make the cookie jars are $54,000 . Christine used $5,000 from her personal savings account to buy pottery tools for her business. The savings account paid 1% annual interest. Christine could earn $6,000 per year as a tax preparer
What is the annual accounting profit of her cookie jar business? a. $36,000 b. $35,950 c. $30,000 d. $29,950
If the law requires apartment building owners to lower rent, the law of supply predicts that, other things constant, the:
A. quantity of apartment units supplied will fall. B. supply of apartment units will shift leftward. C. quantity of apartment units supplied will rise. D. supply of apartment units will shift rightward.