A budget deficit
A) occurs when government expenditures exceed tax revenues.
B) occurs when tax revenues exceed government expenditures.
C) occurs when transfer payments exceed tax revenues.
D) will always result when Congress and the president cannot agree on expenditures.
E) occurs when monetary policy works in the opposite direction of fiscal policy.
A
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What is the advantage of the government imposing an ad valorem tax over a specific tax when facing a monopoly?
What will be an ideal response?
In the 1770s the per capita income in the colonies:
a. was higher than the per capita income in developing countries today. b. was significantly lower than the per capita income in England during the same period. c. was impossible to determine due to inaccurate and incomplete data. d. was lower than the current per capita income in developing countries..
Danzon and Furukawa (2003) argue that:
a. the provision of government-provided free care increases the availability of newly introduced drugs to everyone covered by the government plan. b. generic competition in the U.S. has not done much to lower drug prices or spending. c. price controls in the U.S. would lower drug prices without affecting the overall availability of branded drugs or lowering incentives for future drug development. d. pharmaceutical price differences across countries are roughly in line with differences in per capita GDP, supporting the predictions of Ramsey pricing practices.
Figure 17-10
Refer to . Consumer surplus with trade and without a tariff is
a.
A.
b.
A + B.
c.
A + C + G.
d.
A + B + C + D + E + F.