State and local governments are limited in their ability to respond to recessions because of:
A. Local politics and politicians
B. Their desire to always run budget surpluses
C. The lack of proper economic research and assistance
D. Constitutional and other requirements to balance their budgets
D. Constitutional and other requirements to balance their budgets
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If capital gains equal zero, then the Ng family's wealth at the end of the year equals their wealth at the beginning of the year
A) plus consumption minus income. B) plus income. C) plus saving. D) minus personal income taxes. E) minus consumption.
The shape of short-run variable cost curve is determined by
a. the firm's effort to minimize cost b. the firm's effort to maximize profit c. competition in the industry d. the marginal productivity of the variable inputs the firm uses e. the money the firm spends