Two main reasons that the deficit may increase are:
A. decreases in tax revenues and government spending.
B. decreases in tax revenues and an increase in government spending.
C. increases in household spending and decreases in firm spending.
D. changes in interest rates and unemployment.
Answer: B
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Refer to Table 1-5. What is Julius's marginal benefit if he decides to stay open for three hours instead of two hours?
A) $15 B) $25 C) $65 D) $80
One of the applications of game theory is a mathematical analysis of: a. competitive markets
b. competitive sports. c. the probability of various outcomes. d. interdependent decision making.
Along an indifference curve
A. the price ratio is constant. B. the ratio of the marginal utilities is constant. C. the MRS is constant. D. all of the above E. none of the above
Suppose that when the price of strawberries decreases, Simone increases her purchase of whipped cream. To Simone
A) strawberries and whipped cream are complements. B) strawberries and whipped cream and substitutes. C) strawberries and whipped cream are normal goods. D) strawberries are a normal good and whipped cream is an inferior good.