Examlex
Rank from smallest to largest, the changes in entropy of a pan of water on a hot plate, as the temperature of the water
Crowding Out
A situation in economics where increased government spending reduces private sector investment or spending due to higher interest rates.
Opportunity Cost
The financial impact of bypassing the next most favorable choice in a decision.
Transfer Payments
These are payments made by the government to individuals or other entities without the government receiving any goods or services in return, such as welfare checks.
Government Budget Deficit
A situation where the government's expenditures exceed its revenues over a specified period of time, leading to borrowing or debt accumulation.
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