Because of the system defined by the U.S. Constitution, people and media often call the national government in Washington D.C. ______________
Fill in the blank(s) with the appropriate word(s).
Answer : Federal Government
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The above figure illustrates a perfectly competitive firm. If the market price is $10 a unit, to maximize its profit (or minimize its loss) the firm should
A) shut down. B) produce between 10 and less than 30 units. C) produce 30 units. D) produce more than 30 units and less than 40 units. E) produce 40 units.
One difference between the federal government budget and state and local budgets is that
a. deficits in state and local governments average zero over longer periods of time. b. cyclical deficits are zero for state and local governments. c. state and local governments typically run surpluses. d. both a and b. e. none of the above.
Changes in relative prices may occur in a period of
A. Inflation only. B. Deflation only. C. Stable prices only. D. Stable prices, inflation, or deflation.
GDP stands for __________.?
A. gross domestic price. B. general domestic product. C. gross domestic product. D. gross detailed product.