A surplus is defined as
A) the excess of total expenditures over total revenues.
B) government spending plus transfer payments.
C) the sum of all past borrowing by the government.
D) the excess of total revenues over total expenditures.
D
Economics
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Which of the following probably has the shortest long run?
a. a law firm b. a steel mill c. an automobile plant d. a tire factory e. an aircraft engine factory
Economics
When economists say the demand for a product has increased, they mean the:
a. demand curve has shifted to the right. b. price of the product has fallen, and consequently, consumers are buying more of it. c. cost of producing the product has risen. d. amount of the product that consumers are willing to purchase at various prices has decreased.
Economics