The government has a budget surplus if
A) there is no national debt.
B) tax revenue is greater than outlays.
C) government outlays are greater than tax revenue.
D) the budget is balanced.
E) a fiscal stimulus is being used to combat a recession.
B
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Customers who have long-term relationships with banks
A) pose particular problems with respect to adverse selection. B) pose particular problems with respect to moral hazard. C) often obtain credit at a lower rate or with fewer restrictions. D) are more likely to default or violate restrictive covenants.
To maximize welfare in a competitive market that has a negative externality in production, government should tax a pollution-generating good at a specific tax equal to the marginal cost of producing the good
Indicate whether the statement is true or false