In the United States for the year 2012, the federal government had a ________ so the national debt was ________
A) budget deficit; increasing
B) budget surplus; increasing
C) budget surplus; decreasing
D) balanced budget; not changing
E) budget deficit; decreasing
A
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Which of the following helps in preventing firms in the U.S. from forming collusive agreements?
A) The low demand faced by colluding firms B) The antitrust policy of the government C) The high rate of corporate income taxes D) The low profit earned by firms after colluding
If an educational voucher system were adopted where parents could spend their share of education tax dollars at any school of their choice, then we could expect families to
A. make no changes in their education choices because the relative price of private and public education has not changed. B. make choices that cannot be predicted by economic theory. C. choose less education than before because the public schools would get better. D. choose more education because they do not need to pay double for private education.