Which of the following statements is incorrect?
A. Budget deficits raise the national debt.
B. The concepts of deficit and debt are closely related.
C. Getting rid of the deficit eliminates accumulated debt.
D. Budget surpluses lower the national debt.
Answer: C
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Explain why a firm can earn more profit by price discrimination than from setting a uniform price
What will be an ideal response?
Refer to the diagram. The profit-maximizing level of output for this firm:
A. is at point a.
B. is at point b.
C. is at point c.
D. cannot be determined from the information given.
Assume that banks become more conservative in their lending policies and start holding some excess reserves. Compared to a situation in which banks are not holding excess reserves, the size of the money supply will be
A. larger. B. the same. C. smaller. D. zero.
The rapid adoption of Basic Oxygen Furnaces by "Big Steel" (the top six firms) kept the American basic steel industry from falling behind changes in world technology during the 1960s
Indicate whether the statement is true or false