When government receipts exceed total government spending during a fiscal year, the difference is
a. a budget surplus.
b. a budget deficit.
c. the national debt.
d. automatically refunded.
a
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a. True b. False Indicate whether the statement is true or false
Compared to the situation existing when the Kyoto Protocols were created,
A. India actually produces less greenhouse gasses (GHG). B. the U.S. Senate finally approved the treaty under pressure from President Bush. C. China produces two and one-half times more greenhouse gasses (GHG). D. the U.S. is producing less greenhouse gasses (GHG) than it had promised.
Perfectly competitive firms maximize their profit by producing the output level where P = MR = AVC.
Answer the following statement true (T) or false (F)