The excess of government spending over tax collections is:
A. the government budget deficit.
B. national wealth.
C. national saving.
D. national income.
Answer: A
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Deposit made by the public into a savings account are referred to as:
A) current deposits. B) stockholders' equity. C) demand deposits. D) overdraft.
There are 10 identical internet service providers (ISPs) in a city serving a market demand with an elasticity of -1.5. The elasticity of supply for each firm is 3.0. The elasticity of demand faced by an individual ISP is
A) -42. B) -15. C) -1.5. D) -27.
Suppose you were to believe that "money illusion" exists that is as prices and incomes both rise proportionally, people buy more. Which of the following characteristics of demand does that cause you to doubt?
a. demand functions are downward sloping b. demand has a positive vertical intercept c. demand has a positive horizontal intercept. d. demand functions are homogeneous of degree zero.
When it is costly or impossible to prevent a person who hasn't paid for a particular good from using it, then that good is classified as being _____
a. excludable b. rival c. non-excludable d. non-rival