Suppose that the government of Summerfield spends $2 trillion in 2015 and receives tax revenues of $1.5 trillion. Which of the following is TRUE?
A) Summerfield has a budget surplus of $0.5 trillion.
B) Summerfield has a budget deficit of $0.5 trillion.
C) Summerfield has a trade deficit of $0.5 trillion.
D) Summerfield has a trade surplus of $0.5 trillion.
B
Economics
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If the real interest rate is -1.4% and the nominal interest rate is 0.6%, expected inflation equals
A) -2% B) -0.8% C) 0.8% D) 2%
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Which event in business regulatory history permitted government intervention in industry affairs?
(a) The case of Munn v Illinois (1877) (b) The Sherman Act of 1890 (c) The case of Nebbia v New York (1934) (d) The creation of the Interstate Commerce Commission via the Interstate Commerce Act of 1887
Economics