The difference between what a government spends and what it collects in taxes in a year is
A. the government budget deficit or surplus.
B. net revenue.
C. the government debt.
D. net taxes.
Answer: A
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Which of the following is true? a. Voluntary trades give both parties more in value than what they give up
b. Without the ability to trade, people would not tend to specialize as much in those areas where they had a comparative advantage. c. People can gain by specializing in the production of the good in which they have a comparative advantage. d. All of the above are true.
If the number of employed went up and the number of unemployed went down
A. the unemployment rate would go down. B. the unemployment rate would go up. C. the unemployment rate would stay the same. D. the unemployment rate might go up, go down, or stay the same.