When tax revenues ________ outlays is negative, then the government has a budget ________
A) minus; deficit
B) minus; surplus
C) divided by; surplus
D) plus; surplus
E) plus; deficit
B
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In the above figure, this profit-maximizing monopolistic competitive firm will realize an economic profit of
A) -$1,400. B) $2,100. C) $1,400. D) $700.
If you lost 50 percent on $100 worth of stock in a 3x margin account, then you would lose:
A. $50. B. $150. C. $300. D. $600.
Corrective taxes are typically advocated to correct for the effects of
a. positive externalities. b. negative externalities. c. patents. d. All of the above are correct.
In the parable of the leaky bucket, a fundamental problem with government redistribution programs is identified. As long as the government only has "leaky buckets" at its disposal,
a. the costs of welfare programs will exceed the benefits. b. it should not try to reach complete equality in income. c. income equality will be the best policy option. d. equality of economic opportunity will reduce society's utility.