What are the main rules of the Budget Enforcement Act of 1990?
What will be an ideal response?
The two main rules are: 1 ) it imposed constraints on spending; 2 ) it requires that a new transfer program could only be adopted if it could be shown not to increase deficits in the future.
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A decrease in the quantity supplied is represented by a
A) movement down the supply curve. B) movement up the supply curve. C) rightward shift in the supply curve. D) leftward shift in the supply curve.
In order for a firm to face a perfectly elastic demand curve, it must
a. be a large firm selling a standardized product b. be a small producer selling a standardized product c. be a small producer; its product may or may not be standardized d. be a large producer selling a non-standardized product e. sell a standardized product, but the size of the firm is irrelevant