The amount by which federal tax revenues exceed federal government expenditures during a particular year is the:
A. Federal Reserve.
B. budget deficit.
C. budget surplus.
D. public debt.
C. budget surplus
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Refer to the table below. Based on the given information, we see that:
The table below shows the output (either machines or wine) that each unit of input in France and Germany can produce:
A. France has a comparative advantage in producing wine
B. Germany has a comparative advantage in producing wine
C. Neither country has a comparative advantage in producing wine
D. Germany can produce machines at a lower opportunity cost than France
You are a hotel manager and you are considering four projects that yield different payoffs, depending upon whether there is an economic boom or a recession. The potential payoffs and corresponding payoffs are summarized in the following table. ProjectBoom (50%)Recession (50%)A$20-$10B-$10$20C$30-$30D$50$50A risk-loving manager will prefer project:
A. A. B. B. C. C. D. D.