When the federal government's budget is in deficit, additional funds are acquired through
A. the sale of Treasury bills, notes, and bonds.
B. borrowing from the Federal Reserve System.
C. excise taxes on such items as alcohol, tobacco, and firearms.
D. government savings accumulated during surplus years.
A. the sale of Treasury bills, notes, and bonds.
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A presidential candidate once famously said about a particular policy: "I voted for it before I voted against it." How might such a statement make sense in the context of sophisticated voting along agendas.
What will be an ideal response?
In the figure above, if the market is unregulated, the output will be
A) zero. B) 50 units. C) 150 units. D) 250 units.
Which of the following will NOT cause increasing returns to scale and declining average costs?
a. focusing on a single product line and specializing b. exporting goods to other countries c. selling more in their home market d. hiring more workers at the existing plant
Figure 4.2 illustrates the supply and demand for t-shirts. If the actual price of t-shirts is $10, we would expect that:
A. demand will decrease until quantity demanded equals quantity supplied. B. supply will increase until quantity demanded equals quantity supplied. C. price will increase until quantity demanded equals quantity supplied. D. there will be no change in the price since the market is in equilibrium.