The President first began submitting a budget to Congress in 1931, during the Great Depression
a. True b. False
b
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When the government's outlays equal its tax revenue, then the budget
A) is in deficit. B) is in surplus. C) is balanced. D) could be either in surplus or deficit. E) is legal only because expenditures equal tax revenues.
If a rise in the price of good 1 decreases the quantity of good 2 demanded
A) the cross elasticity of demand is negative. B) the cross elasticity of demand is positive. C) good 1 is an inferior good. D) good 2 is an inferior good.
Since collective consumption goods have a marginal cost of zero, the efficient price is equal to _____
a. average fixed cost b. average variable cost c. marginal cost d. the market price
Which of the following is not one of the three major credit bureaus in the U.S.?
a. Equifax b. Experian c. American Express d. Trans Union