The government of Putania spent $67,000,000 in a particular year, and the total tax receipts of the government in that year were $120,000. Calculate the budget deficit
A) $600,000
B) $680,000
C) $67,120,000
D) $66,880,000
D
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When Joe's disposable income is $50,000, his consumption expenditure is $45,000, and when his disposable income is $60,000, his consumption expenditure is $53,000. Joe's marginal propensity to consume is
A) 100. B) 1.25 C) 80. D) 0.80. E) $8,000.
The concepts of comparative advantage, specialization, and trade form a compelling argument in favor of:
A. free trade. B. protectionism. C. self-sufficiency. D. only exporting goods and not importing goods.
A balanced budget would not affect income because an increase in government spending is exactly matched by an increase in taxes
a. True b. False Indicate whether the statement is true or false
Life expectancy at birth for the world rose from 24 years to 26 years between 1000 and 1820, but by 2003, life expectancy had risen to
What will be an ideal response?