In a closed economy, public saving is the amount of
a. income that households have left after paying for taxes and consumption.
b. income that businesses have left after paying for the factors of production.
c. tax revenue that the government has left after paying for its spending.
d. spending that the government undertakes in excess of the taxes it collects.
c
You might also like to view...
Education vouchers have the advantage that they retain ______ but still allow _____
a. government financing; parents to choose b. government production; considerable government control c. government production; parents to choose d. government financing; considerable government control
If adopted by a firm, a labor-augmenting piece of technology is one that would:
A. increase labor supply. B. decrease labor demand. C. decrease labor supply. D. increase labor demand.
Which of the following statements about fiscal policy is TRUE?
A. Government can shift the aggregate demand curve inward by increasing spending. B. Real Gross Domestic Product (GDP) can be increased above its long-run equilibrium only in the short run. C. Government can shift the aggregate demand curve outward by reducing spending. D. Real Gross Domestic Product (GDP) can never be increased above its long-run equilibrium, even for a brief period of time.
Refer to the following table to answer the question. Which of the following statements is true?Price of AQuantity Demanded of AQuantity Demanded of BQuantity Demanded of C$1.00801005$1.50609810$2.00409615$2.50209420$3.0009225
A. A and B are complements whereas A and C are substitutes. B. A and C are complements whereas A and B are substitutes. C. A and B are complements and A and C are complements. D. A and B are substitutes and A and C are substitutes.