If the government has a spending flow that exceeds the revenues it collects, the government will run a ________ that year
A) surplus B) deficit C) debt D) debt and a deficit
B
Economics
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If an average cost pricing rule is imposed on the natural monopoly shown in the figure above, then the firm's economic profit will be
A) $9 million. B) $12 million. C) $0, that is, the firm's owners make only a normal profit. D) negative, that is, the firm incurs an economic loss.
Economics
Define the elasticity of supply and show how it is calculated
What will be an ideal response?
Economics