Currently, about ____ of U.S. households own stock, either directly or through an equity mutual fund
a. 10 percent
b. 20 percent
c. 50 percent
d. 80 percent
C
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When tax revenues exceed the government's outlays, the budget
A) has a surplus and the national debt is decreasing. B) is balanced and the national debt is decreasing. C) has a deficit and the national debt is increasing. D) has a surplus and the national debt is increasing. E) None of the above because by law tax revenue cannot exceed the government's expenditures.
A binding price floor:
A. will cause quantity demanded to exceed quantity supplied. B. will cause quantity supplied to exceed quantity demanded. C. will increase total well-being. D. will set a legal maximum price in a market.
Trade can increase the consumption possibilities of nations
a. True b. False Indicate whether the statement is true or false
The "monopoly" in monopolistically competitive markets is most likely a result of firms having some pricing power due to product differentiation
a. True b. False Indicate whether the statement is true or false