A food warehouse store got a very good buy on a brand of frozen orange juice and, rather than maintain it as extra inventory, pr
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The fiscal deficit for the government for the current year will be $20 billion for the given condition.
<h3>What is fiscal deficit?</h3>The condition where there is an excess of expenditures over the income during a given financial period, it is known as fiscal deficit. The computation of fiscal deficit using the formula and the given information will be,
Fiscal Deficit = (Total Income – Total Expenditure)
Fiscal Deficit = $50 billion – $70 billion = -$20 billion
Hence, option C holds true regarding fiscal deficit. The complete question has been attached in the image for better reference.
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Answer:
1. 80,000
2. $40 per barrel
Explanation:
1. As we can see from the table provided The equilibrium quantity in this market is 80,000 barrels of heating oil per day, as quantity demanded match quantity supplied
2. As we can see from the table provided The equilibrium price is $40 per barrel as in this cost there is an intersection of quantity demanded and quantity supplied. In other words the equilibrium price and quantity could be find out when the quantity demanded equal to quantity supplied
