Which of the following is not correct?
a. Deficits give people the opportunity to consume at the expense of their children, but deficits do not require them to do so.
b. Deficits and surpluses could be used to avoid fluctuations in the tax rate.
c. The only times deficits have increased have been during times of war or economic downturns.
d. Reducing the budget deficit rather than funding more education spending could, all things considered, make future generations worse off.
c
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In the figure above, in order to promote an efficient allocation of resources, the government could impose a tax equal to
A) zero. B) $250 per unit. C) $150 per unit. D) $100 per unit.
A buyer’s response to a change in income is an example of a “change in demand.”
Answer the following statement true (T) or false (F)
If a city decides to lift restrictions on how many taxi cabs can operate, social welfare will increase
Indicate whether the statement is true or false
A market basket:
A. looks like a really long shopping list for what firm’s typically purchase. B. includes specific goods and services in fixed quantities that roughly correspond to a typical consumer's spending. C. onlyincludes housing, food, and clothing, but not things like transportation. D. is what an economist creates in order to understand purchasing trends of households and firms.