A central government collected taxes totaling $120 billion in the previous year. It's expenditure during the year was roughly the same. This is an example of a
a. balanced budget.
b. surplus budget.
c. deficit budget.
d. zero budget.
a
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Recycling efforts such as those exemplified by BMW's Design for Disassembly (DFD) program
a. permanently diminish the flow of residuals back to nature b. are not represented in the materials balance model c. represent short-term conversion of residuals into recycled materials or goods d. reduce the amount of wastes returned to nature in the long-run
The new growth theory states that
A) it is impossible to replicate production activities. B) technological advances are the result of discoveries and choices. C) the subsistence level income leads to technological advances. D) technological advances are the responsibility of the government. E) technological advances are the result of random chance.
The text considers three methods that can be used to obtain empirical estimates of long-run costs in different industries
Of those three, surveys of expert opinion are considered to be most reliable because they are less subject to bias than the other two methods. Indicate whether the statement is true or false
When the actual unemployment rate is likely to exceed the natural rate of unemployment, as in the time intervals between t1 and t2 and t3 and t4 in Figure 1-1 above, we can expect that
A) inflation is speeding up and real GDP is likely to exceed natural GDP. B) inflation is slowing down and real GDP is likely to fall below natural GDP. C) inflation is speeding up and natural GDP is likely to exceed real GDP. D) inflation is slowing down and real GDP is likely to exceed natural GDP.