Government debt is defined as:
A. accumulated deficits minus accumulated surpluses.
B. a shortfall of outgoing payments under incoming revenue.
C. accumulated deficits plus accumulated surpluses.
D. a shortfall of incoming revenue under outgoing payment.
Answer: A
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The difference between Capitalism and Socialism is that
a. Capitalism is concerned more about how to slice up the "pie" b. Socialism is concerned with making the "pie" as large as possible c. Capitalism is concerned with making the "pie" as large as possible d. Both a and B
If the interest rate is 8 percent, $54 next year is worth __________ today
a. $62 b. $50.68 c. $50 d. $62 e. $4.32
A rise in net exports shifts the aggregate
a. demand curve inward. b. demand curve outward. c. supply curve outward. d. supply curve inward.
Accounting profit is total revenue minus total cost, including both explicit and implicit costs
Indicate whether the statement is true or false