The cyclically adjusted budget measures what the federal budget deficit or surplus would be at full employment output with existing tax and spending decisions.
Answer the following statement true (T) or false (F)
True
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Other things being equal, a reduction in taxes will
A) lead to a corresponding reduction in interest rates increasing the crowding out effect. B) influence the short run aggregate supply curve but not the aggregate demand curve. C) cause an increase in aggregate demand due to increases in consumption, investment, or net exports. D) lead to a reduction in the long run aggregate supply curve as businesses enjoy greater profits.
The current flows of goods, services, investment income, and unilateral transfers between a country and the rest of the world is called the:
A) current account. B) financial account. C) national income product account. D) none of the above.
Refer to the table below. If the cost per unit of advertising is constant at $475, what is the level of advertising per week that maximizes the industry joint profit?
Suppose the egg industry is made up of only the three farms above; Happy Chickens, Special Chickens, and Superior Chickens.
A) 1
B) 2
C) 3
D) 4
If a firm stops production, then its:
A. variable costs decrease to zero. B. fixed costs stay the same. C. total costs decrease. D. All of these are true.