Since 1940 the US Government has generally had a budget:
A. that has been balanced
B. deficit.
C. surplus.
D. multiplier.
Answer: B
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A firm sees its marginal revenue increase by $20 and marginal cost increase by $15 when it produces its 1000th product. This implies
a. the production of the 1000th unit of output increases the firm's profit by $5. b. The firm is past its profit maximizing output c. We cannot say much on the profitability of the firm d. Producing the 1000th item will in fact decrease the overall firm's profits.
After the U.S. government had approved the feeding of hormones to U.S. beef cattle, several western European nations restricted the import of beef from the U.S. Which of the following tools of commercial policy had been put to use in this situation?
a. Tariff b. Quota c. Health and safety standards d. Subsidy e. Government procurement
Only two exchange rate regimes can be considered hard pegs. These are:
A. flexible exchange rates and currency boards. B. dollarization and managed floating. C. currency boards and dollarization. D. the gold standard and inflation targeting.
In a prisoners' dilemma game, which of the following strategies gives the best outcome for both prisoners?
A) Both deny (collusion). B) Both confess (not collude). C) One confesses while the other denies. D) none of the above