If the federal budget deficit is falling, the national debt will
A. be rising at an increasing rate.
B. be rising at a decreasing rate.
C. remain at the same level.
D. be falling at an increasing rate.
B. be rising at a decreasing rate.
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Discounting or computing present value is a way of comparing dollar values that will appear at different points in time
a. True b. False Indicate whether the statement is true or false
The President receives economic policy advice from economists at each of the following except
a. the Council of Economic Advisors. b. the Department of the Treasury. c. the Congressional Budget office. d. the Department of Labor.
If a production process exhibits diminishing returns, then as output rises:
A. total revenue will eventually decrease. B. average total cost will eventually decrease. C. marginal cost will eventually increase. D. total fixed cost will eventually increase.
The marginal principle ________ to the determination of the efficient level of pollution abatement because ________.
A. applies; there are tradeoffs in terms of the costs and benefits of pollution abatement B. applies; pollution abatement causes greater harm than benefits C. does not apply; it is immoral to trade a dirtier environment for material wealth D. does not apply; the costs and benefits of pollution abatement cannot be measured