The opportunity cost of government purchases is greater when financed by borrowing than when financed by taxes.
Answer the following statement true (T) or false (F)
False
The opportunity cost of government purchases is the true burden of government activity, however financed.
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The price elasticity of supply is calculated as the
A) percentage change in quantity supplied multiplied by the percentage change in price. B) percentage change in quantity supplied divided by the percentage change in price. C) percentage change in price divided by the percentage change in quantity supplied. D) percentage change in quantity supplied plus the percentage change in price.
Contractionary fiscal policy can lead to a depreciation of the nation's currency
Indicate whether the statement is true or false
In Table 1, steaks are classified as a(n)
A) normal good. B) positive good. C) inferior good. D) marginal good.
Which of the following laws was enacted to forbid monopolization and attempts to monopolize?
a. The Anti-Monopoly Act b. The Sherman Antitrust Act c. The Trade Act d. The National Banking Act e. The Celler-Kefauver Act