A budget deficit is the:
A. amount of money a government spends beyond the net revenue it brings in.
B. amount of net revenue a government brings in beyond what it spends.
C. total amount of money that a government owes.
D. total amount of money that a government spends for discretionary policies.
A. amount of money a government spends beyond the net revenue it brings in.
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If consumers experience an increase in lifetime income, current spending will ________, current saving will ________, and future spending will ________
A) increase; increase; increase B) increase; decrease; decrease C) increase; decrease; increase D) increase; increase; decrease E) decrease; increase; increase
As workforces become more educated in countries with comparative advantages in labor-intensive products, cheap labor becomes:
A. more abundant relative to capital. B. less abundant relative to skilled labor. C. more abundant relative to skilled labor. D. None of these is true.
To increase workers' incomes, the City of New York's government set a wage below which it is illegal for employers to pay employees. This wage is referred to as the
A) union wage. B) government wage. C) efficiency wage. D) minimum wage. E) city wage.
Contracting is a better arrangement for operating an electricity market than is a spot market
Indicate whether the statement is true or false