If the structural deficit is $750 billion and the cyclical deficit is $150 billion, it follows that the __________ is __________ billion
A) public debt; $900
B) total budget deficit; $600
C) total budget deficit; $900
D) net public debt; $600
E) none of the above
C
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In the debate between equity and efficiency, _____ tend to favor efficiency, while _____ tend to favor equity
a. Keynesians; classicals b. monetarists; supply-siders c. supply-siders; Keynesians d. classicals; supply-siders.
A retailer X that is operating at a loss gets bought out by a larger chain of department stores, which shuts down the brand, using its assets for their own brand,
a. Wealth is destroyed since the company shut down b. Wealth is created since the resources were of lesser value under the X brand and are now worth more c. Wealth is neither created nor destroyed since the total amount of resources stay the same d. None of the above
The role of _______ in the production process is central to why the United States is rich and most of the rest of the world is poor.
A. Labor B. Land C. Capital D. Government
A firm can sell 14 units at $18, but to sell 15 units, the firm must cut the price to $17. The marginal revenue derived from selling the 15th unit is
A. -$18. B. 0. C. $3. D. $17.