In recessions, we expect to run federal budget ___ bc govt spending will be ____ tax revenues.
a. balances; equal to
b. surpluses; greater than
c. surpluses; smaller than
d. deficits; greater than
e. deficits; smaller than
Answer: d. deficits; greater than
Economics
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Which one of the following would count as investment in the GDP accounts?
a. Purchase of a new airplane by an airline. b. Purchase of a U.S. government bond. c. Purchase of 100 shares of Wal-Mart stock. d. Purchase of an existing house.
Economics
If the selling price of a bushel of cranberries rises, we would expect the demand for labor in the cranberry industry to
a. increase. b. decrease. c. be unchanged. d. increase by less than the corresponding decrease in supply.
Economics