When government revenues exceed spending, that is called a
A. balanced budget.
B. budget surplus.
C. negative surplus.
D. budget deficit.
Answer: B
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Refer to Scenario 1. What is the total sum of squares?
A) 3860.8 B) 3718.9 C) 141.9 D) None of the above.
An economy's total labor income is $2 trillion, and total capital income is $1 trillion. In the Cobb-Douglas production function, the exponent on capital is ________
A) two-thirds B) one-half C) one-third D) 0.3 E) none of the above
If the aggregate supply curve shifts outward, then unemployment
a. and inflation will both decrease. b. and inflation will both increase. c. will increase and inflation will decrease. d. will decrease and inflation will increase.
The relative concept of poverty is based on how far behind average income a particular family gets.
Answer the following statement true (T) or false (F)