If the federal government has a budget deficit, then it is definitely the case that
A) the tax revenue exceed government outlays.
B) the tax revenue and government outlays are equal.
C) the tax revenue is falling and government outlays are rising.
D) government outlays exceed tax revenue.
E) the tax revenue is rising and government outlays are falling.
D
You might also like to view...
Write down the budget constraint equation as well as the choice set for a worker who has 100 possible hours of leisure per week and can earn a wage of $25 per hour.
What will be an ideal response?
Refer to the information below. What is the vertical intercept of the demand curve?
A small nation has three gasoline suppliers with a linear monthly market demand equal to: Q = 500,000 - 5P. Each firm's marginal cost (MC) and average total cost (ATC) curves are horizontal at $10,000 per month. A) 0.50 B) 100,000 C) 0.20 D) 500,000
The demand for a subway ride is probably ___________________ than is the demand for a car because ___________________.
A. less price elastic; a subway ride requires a smaller portion of one's income B. more price elastic; a subway ride requires a smaller portion of one's income C. less price elastic; people will take a longer time to adjust to the change in the price of a subway ride D. more price elastic; people will take a longer time to adjust to the change in the price of a subway ride.
How does an economic model attempt to explain puzzling behavior? What features would be desirable in an economic model?
What will be an ideal response?