When government revenue is less than government spending, the nation has a:
A. government budget surplus.
B. trade deficit.
C. trade surplus.
D. government budget deficit.
Answer: D
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Which of the following is included in both M1 and M2?
A) currency B) savings deposits C) small-denomination time deposits D) money market deposit accounts
The market mechanism leads to underproduction of public goods because the supply of public goods is hidden.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 34.1 below to answer the question(s) that follow.
Figure 34.1Refer to Figure 34.1. The ________ in this economy is 1.25.
A. MPS B. MPC C. MPM D. open economy multiplier
The change from prescriptive rights to priority rights meant all of the following except
(a) Entrepreneurial costs of economic development, such as river and lake pollution, had to be paid by those who were responsible for the costs. (b) The courts encouraged entrepreneurial activity by judicial interpretation. (c) Amenity rights to scenery, clear air and quiet enjoyment could be reduced. (d) Judges placed social weights upon property rights that favored some more than others.