If government spending is $6.2 trillion while government revenue is $6.2 trillion, the government is said to have a
A) balanced debt. B) balanced budget. C) budget surplus. D) budget deficit.
B
Economics
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What is the impact of a government subsidy to producers?
A) Less is produced relative to the efficient level, creating a deadweight loss. B) More is produced relative to the efficient level, creating a deadweight loss. C) Producer surplus is increased, which creates a larger consumer surplus. D) Producers are able to sell the product at a higher price. E) Consumers must pay a higher price for the good.
Economics
What are the main characteristics of high-income and low-income households?
What will be an ideal response?
Economics