Given the underlying demographic changes in our society, we can expect
a. budget surpluses to outnumber budget deficits in the years ahead.
b. the number of budget surpluses to be approximately equal to the number of budget deficits in the years ahead.
c. budget deficits to outnumber budget surpluses in the years ahead.
d. budget deficits one year to be followed by a budget surplus the next so that the budget balances every two years.
C
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Refer to Figure 13-11. The firm represented in the diagram
A) makes zero economic profit. B) should exit the industry. C) makes zero accounting profit. D) should expand its output to take advantage of economies of scale.
Vertical relationships can increase profits through
a. preventing firms from evading regulation b. eliminating a double-markup problem c. making the incentives of manufacturers and retailers unaligned d. preventing price discrimination