Discretionary expenditures are federal government expenditures for programs whose funds are authorized and appropriated by Congress and signed by the President, where explicit decisions are made on the size of the programs

If a rent ceiling is set below the equilibrium price, thus creating a ________, housing may be allocated by increasing search activity or creating a ________

A) shortage; black market B) shortage; free market C) surplus; black market D) surplus; open market E) surplus; free market

If the value of a country's merchandise exports is less than the value of its merchandise imports, it is said to have a

a. trade surplus. b. trade deficit. c. current account surplus. d. capital account deficit.