During most of the time in recent decades, the government sector
A) has not spent more than it collected in taxes.
B) has run large deficits.
C) has run large surpluses.
D) has balanced its budget every year.
B
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Common resources differ from public goods in that
A) common resources are resources that cannot be renewed but the production of public goods can be increased any time. B) common resources are collectively owned by a group of people while public goods are government owned. C) unlike public goods, common resources are rival in consumption. D) common resources are non-excludable while public goods are excludable to those who do not pay for the good.
In year 1 the CPI is 175, and in year 2 the CPI is 189. If Dennis's salary was $82,000 in year 1, what is the minimum salary he must earn in year 2 to "keep up with inflation"?
a. $83,550 b. $92,360 c. $85,750 d. $88,560
The government’s fiscal policy is its plan for managing ______________ through its spending and taxing programs
A. aggregate demand B. aggregate supply C. international trade D. None of these
Resources that flow through the circular flow model include all of the following except:
A. land. B. labor. C. capital. D. final goods.