If a government sells debt to help meet its expenditures, then the government has a
a. budget surplus. Other things the same, the surplus rises if government expenditures rise.
b. budget surplus. Other things the same, the surplus rises if government expenditures fall.
c. budget deficit. Other things the same, the deficit rises if government expenditures rise.
d. budget deficit. Other things the same the deficit rises if government expenditures fall
c
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Which of the following is the main weakness of the classical model?
a. It assumes that the labor supply curve is vertical. b. It assumes that the labor supply curve is horizontal. c. It assumes that the labor market clears. d. It assumes that the labor demand curve is horizontal. e. It assumes that the labor demand curve is vertical.
The difference between the value of a product at the end of one stage of production and the cost of materials purchased from other firms at the beginning of this stage is the
A. value added. B. net input cost. C. production profit. D. gross input cost. E. value of the intermediate product
Output Total Cost015125233340448558670Table 8.5Refer to Table 8.5. The average variable cost of producing five units of output is:
A. $0. B. $8.60. C. $10. D. $11.60.
Why does the short-run aggregate supply curve slope upward?
What will be an ideal response?