Which of the following is a government expenditure, but is not a government purchase?
A) The federal government pays out an unemployment insurance claim.
B) The federal government buys a Humvee.
C) The federal government pays the salary of an FBI agent.
D) The Federal government pays to support research on AIDS.
A
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In the above figure, the distance between A and B represents this monopoly firm's
A) total profit. B) total revenue. C) average profit per unit. D) average cost per unit.
A budget deficit will be least inflationary if the aggregate
a. demand curve is very steep. b. demand curve is very flat. c. supply curve is very flat. d. supply curve is very steep.
Ultimately, the change in unemployment associated with a change in inflation is due to
a. the shape of the long-run aggregate supply curve. b. unanticipated inflation, not inflation per se. c. anticipated inflation, not inflation per se. d. a change in the natural rate of unemployment.
Liquidity is defined as
A) the ease with which a given asset can be converted to a store of value. B) the ease with which a given asset can be converted to a unit of account. C) the ease with which a given asset can be converted to a medium of exchange. D) the ease with which a given asset can be converted to a standard of deferred payment.