The only way to stop the growth of the national debt is to eliminate the budget deficits that create debt.
Answer the following statement true (T) or false (F)
True
A balanced annual budget is the first step in debt reduction. To reduce the debt there must be a budget surplus where tax revenue exceeds government spending.
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An increase in the demand for music downloads indicates that more music downloads are
A. demanded because sellers are putting music downloads on sale. B. demanded because music download prices have decreased. C. demanded even if prices of music downloads stay the same. D. demanded because sellers are selling more music downloads.
A decrease in the price of the output will decrease the firm's demand for labor
a. True b. False Indicate whether the statement is true or false
How does competition from nonunion firms and foreign producers affect the ability of a union to increase the wages of its members?
a. Such competition makes it easier for the union to achieve wage increases. b. Such competition reduces the ability of a union to achieve wage increases. c. Such competition does not affect the ability of a union to achieve wage increases. d. Such competition will increase the strength of a union if it produces a product sold in the domestic market but will reduce the strength of the union if it produces an export product.
The excise tax is
A. regressive. B. progressive. C. proportional. D. an ability-to-pay tax.