In what year did spending climb and tax collections fall to historically unusual levels, resulting in enormous deficits?
a. 1990
b. 1999
c. 2001
d. 2007
d. 2007
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In the above figure, at the equilibrium price and quantity, consumer surplus is ________
A) $90 B) $60 C) $45 D) $30
Which of the following directs the buying and selling of U.S. government securities?
a. Board of Governors b. District Federal Reserve Banks c. Federal Open Market Committee d. Federal Advisory Council e. member banks
A consumer's preferences provide a ranking of
a. all possible consumption bundles. b. only the consumption bundles that fall on the same indifference curve. c. consumption bundles based their prices. d. consumption bundles based on the consumer's income.
Price-discriminating firms that sell in two markets will charge higher prices in the market, ceteris paribus,
A. With a higher positive cross-price elasticity of demand with respect to substitutes. B. With lower incomes. C. With the more price-inelastic demand. D. With the more income-elastic demand.