The deficit can be defined in simple terms as
A. tax receipts ? government expenditures + transfers.
B. tax receipts + government expenditures + transfers.
C. government expenditures + transfers ? tax receipts.
D. government expenditures ? transfers ? tax receipts.
Answer: C
You might also like to view...
A room heater is a ________
A) club good because it is excludable but non-rival in consumption B) club good because it is non-excludable but rival in consumption C) public good because it is non-excludable and non-rival in consumption D) private good because it is excludable and rival in consumption
What is the water and diamonds paradox of value and what is its resolution?
What will be an ideal response?
Refer to Figure 2-10. If the economy moves from point C to point B, then which of the following statements is correct?
a. The economy benefited from a technological advance in the production of baseballs. b. The opportunity cost of each additional baseball is 2 bananas. c. The opportunity cost of each additional banana is 2 baseballs. d. The move involves no opportunity cost; it simply reflects the desires of the economy's citizens.
If the price of gasoline has increased from $2 per gallon to $4 per gallon at the same time that the overall price index increased from 200 to 450, then you know that the inflation adjusted price of gasoline has
A. decreased. B. remained constant. C. increased.