Pick the false statement
A) It is possible for economic profit to be equal to accounting profit.
B) It is possible for economic profit to be greater than accounting profit.
C) It is possible for economic profit to be less than accounting profit.
D) Economic profit can only occur under conditions of uncertainty.
B
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To help pull an economy out of a recession and put additional income in the hands of the public, a government can force its expenditures to ________ its revenues and create a ________
A) reduce; deficit B) exceed; special taxes C) stimulate; depression D) exceed; deficit
The relationship in the above figure suggests that when the interest rate is 5 percent
A) a decrease in income will be associated with a decrease in expenditures. B) a decrease in income will be associated with an increase in expenditures. C) an increase in income will be associated with a decrease in expenditures. D) there is no relationship between expenditures and income.