Which of the following is not considered a rationale for the intervention of government in the market process in the United States?
A) the redistribution of income
B) the reallocation of resources
C) the long-run planning of scarce resources
D) the short-run stabilization of prices
E) All of the above
C
Economics
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A deficit is defined as
A) the excess of total revenues over total expenditures. B) the sum of all past borrowing by the government. C) the excess of total expenditures over total revenues. D) government spending plus transfer payments.
Economics
In the long run, new firms enter a perfectly competitive market when
A) normal profit is greater than zero. B) economic profit is equal to zero. C) normal profit is equal to zero. D) economic profit is greater than zero. E) the existing firms are weak because they are incurring economic losses.
Economics