What happens typically to a budget deficit during a recession?
a. It increases because of tax changes.
b. It decreases because of spending decreases.
c. It decreases automatically.
d. It increases automatically.
d
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Country A has a lower stock of capital than Country B, but the supply of labor in both the countries is equal
A) An additional unit of capital will increase output in Country A only if there is an increase in the total efficiency units of labor. B) The increase in output due an additional unit of capital will be larger in Country A than in Country B. C) The increase in output due an additional unit of capital will be smaller in Country A than in Country B. D) An additional unit of capital will increase output in Country B only if there is an increase in the total efficiency units of labor.
The value of a household's assets minus the value of its liabilities is called
A) wealth. B) income. C) debt. D) stock.