An increase in the public debt would most likely indicate that
A) national saving has increased. B) the budget deficit has increased.
C) the budget deficit has decreased. D) the trade deficit has decreased.
B
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From the 1960s to 2014, transfer payments
A) have declined by half as a percentage of total federal government expenditures. B) have risen from 25 percent to about 48 percent of federal government expenditures. C) remained the same percentage of total federal government expenditures. D) have grown very slowly as a percentage of total federal government expenditures.
A game show host who gave up his job as a teacher brags about his salary, saying "the rest is pure gravy." Here, "the rest" refers to
a. opportunity cost b. implicit cost c. explicit cost d. the height of his labor supply curve e. economic rent