Incrementalism may be an efficient way to craft a budget because _____
a. it minimizes government size
b. it is difficult to measure the benefits of many government programs
c. it removes special interest influence from the budget process
d. it requires that programs be cost-effective to continue
b
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The inflation-reduction episode of the early 1980s was an example of an
A) expected inflation reduction fiscal policy by Congress. B) unexpected inflation reduction by the Fed. C) unexpected inflation reduction fiscal policy by Congress. D) unexpected inflation reduction by the Fed combined with an expected inflation reduction fiscal policy by Congress. E) expected inflation reduction by the Fed.
While studying with your friend, your friend states, "Our leisure time increases GDP but lowers our standard of living because it reduces the amount of goods and services we can consume." Is your friend's statement correct?
What will be an ideal response?
Suppose Szmul Hecht's farm A is 10 miles from the marketplace, while Frantisek Bass's farm is twice as far away. Ceteris paribus, We know then that the
a. present value of Hecht's farm is lower than the present value of Bass's farm b. differential rent Hecht receives is greater than the differential rent Bass receives c. differential rent Hecht receives is less than the differential rent Bass receives d. location rent Hecht receives is less than the location rent Bass receives e. present value of Hecht's farm is higher than the present value of Bass's farm
If the World Bank makes loans to nations that can attract private funds
A. the presence of the World Bank's loans will lead to even more private funds being attracted to that country. B. the World Bank's loans will lead to even more private loans made to developing nations. C. the increase in growth in that nation will spill over to other nations that are developing. D. these loans will interfere in the private market for capital goods and can lead to inefficient investment.