Budget deficit is the amount by which the government’s expenditures exceed its receipts during a specified period of time, usually a year.
Answer the following statement true (T) or false (F)
True
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The total adult population of an economy is 175 million, the number of employed is 122 million, and the number of unemployed is 17 million. The percentage of adults who are not in the labor force is
A. 30.3%. B. 13.9%. C. 20.6%. D. 25.3%.
The CPI market basket is determined by
A) tax return data of households. B) supermarket purchases recorded by scanner technology. C) profit releases of the largest companies. D) a consumer survey. E) surveys asking large retail companies, such as Wal-Mart, about their sales of consumer goods and services.
Information asymmetry is present when:
A. one person knows more than another. B. there is risk. C. when both parties are lacking the same information. D. All of these statements are true.
An example of a barrier to entry is
a. patent law b. government regulations c. cost of advertising d. economies of scale e. all of the above