Deficits are created by governments running a large debt
a. True
b. False
Indicate whether the statement is true or false
False
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Explain why total utility is maximized when the marginal utility per dollar on all goods is equal
What will be an ideal response?
If two goods are complementary,
a. a decrease in the price of one good will lead to a decrease in the demand for the other b. the cross elasticity of demand is zero c. an increase in the price of one good will lead to an increase in the demand for the other d. the cross elasticity of demand is positive e. a decrease in the price of one good will lead to an increase in the demand for the other
When is the definition and enforcement of property rights especially difficult?
a. When many polluters harm a large group of people with the same pollutant. b. When a single polluter is harming a single person or entity. c. When land is owned by a corporation. d. When the benefits of prosecution are clear.
A balance of trade deficit exists when
A. net exports are negative. B. net exports are positive. C. exports equal imports. D. exports exceed imports.