Refer to the table above. The private sector balance is a

A) $700 billion surplus.
B) $400 billion deficit.
C) $700 billion deficit.
D) $2,900 billion deficit.
E) $2,900 billion surplus.

C

Economics

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Based on the data in the table above, ice cream and cake are ________ goods

A) inferior B) normal C) substitute D) complementary E) Both answers B and D are correct.

Economics

If the shutdown rule, p < AVC, is the same in the short run and the long run, explain why the shutdown prices may be different

What will be an ideal response?

Economics