According to the government budget constraint, any excess of public expenditures and transfers over taxes and user fees must be funded by
A) private borrowing.
B) government borrowing.
C) U.S. Treasury money creation.
D) Federal Reserve money creation.
Answer: B
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Refer to Table 9-1. Select the statement that accurately interprets the data in the table
A) Sandy has a comparative advantage in dog grooming. B) Sandy has a comparative advantage in dog bathing. C) Linda has a comparative advantage in dog grooming and dog bathing. D) Linda has a comparative advantage in dog grooming.
The aggregate demand curve shows the combinations of output and the price level that put the economy on
A) the FE line and the IS curve. B) the FE line, the IS curve, and the LM curve. C) the IS curve. D) the IS curve and the LM curve.
One reason that college graduates earn higher wages than non-graduates is because college graduates:
A. acquire additional skills to allow them to work in more industries than non-graduates. B. always work in more dangerous jobs than non-graduates. C. are always more intelligent than non-graduates. D. are less equipped to deal with technological change, as their skills are technology-specific.
A market situation in which a large number of firms produce similar but not identical products is
A) a collusive market structure. B) competitive monopoly. C) a homogeneous market. D) monopolistic competition.