Which of the following will definitely reduce a budget deficit and provide fiscal restraint?
A. Greater government spending and lower taxes.
B. Greater government spending and higher taxes.
C. Lower government spending and lower taxes.
D. Lower government spending and higher taxes.
D. Lower government spending and higher taxes.
You might also like to view...
Which of the following is a result of increased real wages in the United States?
a. a decrease in the quantity of services demanded by households b. an increase in the opportunity cost of remaining employed in the home c. a decrease in the opportunity cost of working outside the home d. a decline in the number of households providing labor outside the home e. reduced use of labor-saving devices in households
When what people pay does not necessarily reflect the real value they put on a good, it is likely that the:
A. free rider problem does not exist. B. good will be undersupplied. C. good is easily excludable. D. not a socially desirable good.
Total utility decreases when diminishing marginal utility is present
a. True b. False Indicate whether the statement is true or false
Sellers have a strong incentive to lobby government for legal restrictions that would reduce the intensity of competition in their market because
a. the firms wish to be more efficient than competition will permit. b. competition tends to result in lower prices and lower profits. c. legal restrictions that lessen competition in a market generally benefit consumers. d. the firms fear that intense competition will lead to higher profits that will attract additional rivals into the market.