When a government chooses to have a zero deficit with regard to revenues and spending, it is operating with what kind of budget?
A) a slow economy budget B) a balanced budget
C) a conservative budget D) a taxpayer-based budget
B
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Differences in the stock of human capital between nations are an example of a(n):
A) proximate cause of prosperity. B) implicit cause of prosperity. C) explicit cause of prosperity. D) fundamental cause of prosperity.
A firm faces the following relationship between the real wage it pays and the effort exerted by its workers. The marginal product of labor for this firm is given by MPN = E (100 - N)/9. How many workers will the firm employ?
A) 96 B) 92 C) 88 D) 80
The Fed does not have to go through the normal congressional appropriations process because
A) its expenses are very small. B) it was given enough funds at the time of its founding to provide for its expenses indefinitely. C) it is self financing. D) it is not part of the legislative branch of the federal government.
A perfectly competitive firm is a: a. price giver
b. price taker. c. price maker. d. price leader.