Which of the following is an example of thinking at the margin?
(A) Deciding to buy a car you don't really like because it is significantly less expensive than the one you want.
(B) Putting all of your money in a savings account because the interest rate is so high.
(C) Determining whether it is better to spend your savings on a new CD player or on a television.
(D) Deciding whether the benefit of working two extra hours per day is worth the sacrifice of study time.
Ans: (D) Deciding whether the benefit of working two extra hours per day is worth the sacrifice of study time.
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In the circular flow diagram, ________ supply the factors of production, and ________ goods and services
A) firms; sell B) households; buy C) firms; buy D) households; sell
The structural deficit is the deficit that
a. is composed by of nondiscretionary spending by the federal government. b. results from the economy being below its natural rate of output. c. exists when output is at its natural rate of output. d. results from temporary tax cuts. e. all of the above