If the quantity supplied stays the same no matter what the price is, then supply is

A country's government runs a budget deficit when which of the following occurs in a given year?

A) The amount of new loans to developing nations exceeds the amount of loans paid off by developing nations B) Government spending exceeds tax revenue C) The debt owed to foreigners exceeds the debt owed to the country's citizens D) The amount borrow exceeds the interest payment on the national debt E) Interest payments on the national debt exceed spending on goods and services

In a market with perfectly competitive firms, the market demand curve is usually ____ and the demand curve facing each individual firm ____

a. upward sloping; horizontal b. downward sloping; horizontal c. horizontal; downward sloping d. downward sloping; downward sloping