From the viewpoint of the entire economy, the cost of government is
a. equal to the amount of taxes collected.
b. greater than the amount of taxes collected.
c. less than the amount of taxes collected.
d. equal to the level of government expenditures.
B
Economics
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The national economic forecast for the next two years prepared by the staff of the Board of Governors is published in the
A) green book. B) beige book. C) blue book. D) Fed book.
Economics
Max has allocated $100 toward meats for his barbecue. His budget line and indifference map are shown in the above figure. If Max is currently at point e,
A) the absolute value of his MRS is less than the trade-off offered by the market. B) he is willing to give up more burger than he has to, given market prices. C) he is not maximizing his utility. D) All of the above.
Economics