Public saving is positive when:
A. after-tax income of households and businesses is greater than consumption expenditures.
B. after-tax income of households and businesses is less than consumption expenditures.
C. the government's budget is balanced.
D. there is a government budget surplus.
Answer: D
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An export is any good that is:
A) rationed and licensed by the government. B) produced and consumed domestically. C) produced by public-sector firms. D) produced domestically, but sold abroad.
One important consequence of migration is:
A. demographic shifting in both countries. B. population growth in both countries. C. remittances received by sending countries. D. increased output in receiving countries.
Suppose that during a given time period the implicit cost for a business was $1,500 and that the explicit cost was $6,000. Also suppose that the firm sold 1,000 units of its products at $8 per item. We can conclude that the firm's
A. accounting profit was $2,000, and its economic profit was $500. B. accounting profit was $2,000, and economic profit was -$500. C. accounting and economic profits were both $2,000. D. accounting profit was -$500, and economic profit was $2,000.
Refer to the diagram. Other things equal, a leftward shift of the supply curve would:
The following diagram is a flexible exchange market for foreign currency:
A. appreciate the euro.
B. cause a shortage of euros.
C. increase the equilibrium quantity of euros.
D. appreciate the dollar.