If the government has no debt initially, but then has annual revenues of $10 billion per year for 4 years and annual expenditures of $10.5 billion per year for 4 years, then the government has
A) a budget surplus of $0.5 billion per year and a debt of $2 billion at the end of the 4 years.
B) a budget deficit of $0.5 billion per year and a debt of $2 billion at the end of the 4 years.
C) a budget surplus of $0.5 billion per year and a surplus of $2 billion at the end of the 4 years.
D) a budget deficit of $0.5 billion per year and a budget surplus of $2 billion at the end of the 4 years.
B
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The policy that aims to regulate and prevent anti-competitive pricing in the United States is referred to as:
A) antitrust policy. B) anticompetition policy. C) monopoly regulation policy. D) consumer protection policy.
An individual who works for 49 quarters in a covered job is eligible for Social Security benefits
a. True b. False
The demand curve is:
A. a downward-sloping line that reflects the inverse relationship between price and quantity. B. an upward-sloping line that reflects the inverse relationship between price and quantity. C. a downward-sloping line that reflects the positive relationship between price and quantity. D. an upward-sloping line that reflects the direct relationship between price and quantity.
Monetarists believe that
a. velocity is independent of the money supply b. the transactions demand for money influences the velocity of money c. the economy does not always operate at full employment d. velocity is constant if the money supply is constant e. velocity varies directly with the money supply