The Gramm-Rudman-Hollings Acts of 1985
a. led to the largest budget deficits in the history of the United States
b. structured a one-quarter reduction in real discretionary spending over the period 1993–1998
c. required Congress to implement a pay-as-you-go plan
d. required Congress to cut every budgetary item by the same percentage if it could not reduce the deficit to zero through discretionary budget making
e. required Congress to pay for new spending by cutting old spending or raising taxes
D
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How do high rates of inflation lead to an increased frequency of cash withdrawals from an ATM or a bank?
Suppose that in most car collisions between cars of unequal size, the smaller car sustains the most damage and its occupants suffer the most injury. In answering the following question, assume that, on average, smaller cars generate less air pollution than larger cars and that every person in the economy drives at least one car. In deciding what kind of car to buy, individuals:
A. will have a strong incentive buy large cars because large cars are safer than small cars. B. will fully internalize the full cost of the air pollution caused by larger cars. C. will fully internalize the safety benefit to others of driving a small car. D. not consider their own safety in deciding what kind of car to buy.
Refer to the information provided in Figure 9.6 below to answer the question(s) that follow. 
Figure 9.6Refer to Figure 9.6. For this firm, diseconomies of scale set in after ________ units of output.
A. q1 B. q2 C. q3 D. q4
A reason why the CPI overstates the cost of living is that the
A. BLS audits prices in the same types of stores, rather than shift to cheaper outlets. B. CPI makes no attempt to ascertain what average people buy. C. CPI makes no attempt to update the market basket. D. CPI only measures the effects of inflation on the poor.