Empirical evidence suggests that the federal budget has remained more or less in surplus between 1990 and 2002

In the absence of technological progress, which of the following is true when the economy is operating at the steady state?

A) The growth of output per worker is zero. B) The growth of output per worker is equal to the saving rate. C) The growth of output per worker is equal to the rate of investment. D) The growth of output per worker is equal to the rate of depreciation. E) none of the above

Which of the following is most likely to contribute to the presence of monopoly in an industry?

a. economies of scale b. an elastic market demand for the product produced by the industry c. inefficiency due to bureaucratic decision-making procedures in the industry d. controlling over 50 percent of the market