The private sector balance is equal to savings ________ investment, and the government sector balance is equal to government expenditure ________ taxes. If there is a deficit in the private sector balance and a deficit in the government sector balance, then there must be a ________ in net exports.

Refer to the scenario above. If Frank discounts delayed utilities with a weight of 1/4, then which of the following statements is true?

A) He will consume both hotdogs and ice cream. B) He will avoid consuming both hotdogs and ice cream. C) He will consume ice cream but will avoid consuming hotdogs. D) He will consume hotdogs but will avoid consuming ice cream.

The law of diminishing returns makes it clear that as more a variable input is employed, in the ________ the marginal product of the variable input eventually will ________

A) short run; rise B) long run; rise C) short run; fall D) long run; fall