A federal government deficit is said to exist in the event that ________
A) federal outlays are less than federal revenues
B) federal outlays are equal to federal revenues
C) federal outlays are greater than federal revenues
D) any of the above conditions exists
C
Economics
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For a good such as a large screen HD television set, the income elasticity would likely be
A) negative. B) equal to zero. C) positive and less than one. D) positive and greater than one. E) undefined because large screen, HD TVs are bought by many consumers.
Economics
Marginal damages are hard to measure because
A. they can be generated from multiple sources. B. they are hard to graph. C. they happen over time. D. no one cares about them.
Economics