If the budget deficit was eliminated, the federal government would have more money than it could spend

Which of the following statements is TRUE about profits?

A) Profits are considered a cost of doing business. B) Profits are excluded from the circular flow of the income diagram. C) The only portion of profits that are included in the circular flow diagram are the portion paid out in the form of dividends. D) Profits are considered one of the resources necessary for production.

What does the saying "There is no such thing as a free lunch" mean?

a. free lunches were outlawed in 1920 b. You will receive a bill for the "free" lunch at a later date c. free lunches often cause food poisoning d. everything costs something