When the federal government is running a budget deficit:
A. government tax revenues exceed government expenditures.
B. government expenditures exceed government tax revenues.
C. the economy must be in an economic recession.
D. the size of the national debt will decline.
Answer: B
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Which of the following indicates that there is a shortage in the market?
A) Demand is rising. B) Demand is falling. C) Price is rising. D) Price is falling.
The ideal pollution tax adds how much to private cost?
a. as much as possible b. an amount that will maximize government tax revenue c. an amount equal to the market price d. an amount equal to the external cost e. nothing
The growing importance of export demand for American agriculture has:
A. reduced the international value of the dollar. B. had no significant effect on the stability of the demand for farm products. C. destabilized the total demand for farm products. D. stabilized the total demand for farm products.
Recall the Application about the use of fertilizer and its impact on crop yields to answer the following question(s). The table is taken from this Application.
Bags of Fertilizer Bushels of Corn0851120213531444147Refer to the table above. The farmer increased his total production of corn by 9 bushels per acre after applying:
A. the first bag of fertilizer. B. the second bag of fertilizer. C. the third bag of fertilizer. D. the fourth bag of fertilizer.