Which of the following countries experienced the sharpest fiscal contraction in order to gain admission to the Euro club?

When government outlays exceed tax revenue, the situation is called a budget

A) with a negative balance. B) deficit. C) surplus. D) debt. E) with no balance.

Refer to Figure 11-13. The lines shown in the diagram are isocost lines. If the price of labor is $50 per unit, then along the isocost AF, the total cost

A) is $500. B) is $750. C) is $1,250. D) cannot be determined without the price of capital.