You are given the following budget data for a country that has both a central government and local governments
(a) How much is the deficit for the central government, the local government, and the total of the central and local governments?
(b) How much is the primary deficit for the central government, the local government, and the total of the central and local governments?
(a) 175, 10, 185
(b) 50, 50, 100
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“Equilibrium” is a situation in which there are no inherent forces to produce change.
Answer the following statement true (T) or false (F)
In the Keynesian model, which of the following will cause an increase in interest rates?
A) An increase in money demand B) An increase in money supply C) An increase in saving D) A decline in saving
Suppose the local market for legal services has an upward sloping supply curve, PL = 150 + 0.0001QL where PL is the price of legal services and QL is the number of hours of legal services
If the equilibrium price of legal services is $250 per hour, what is the aggregate economic rent earned by lawyers in this market? A) $50,000 B) $1,000,000 C) $50,000,000 D) $100,000,000
Geo Sports, a football gear manufacturer, is considering expanding its factory. Which of the following describes the best conditions for a factory expansion?
a. The long-run average total cost curve is a horizontal line. b. The slope of the long-run average total cost curve is positive. c. The slope of the long-run average total cost curve is negative. d. The slope of the long-run average total cost curve is zero.