Since 1962, which of the following federal expenditures, measured as a percentage of GDP, has decreased?
A) Social Security
B) Medicare and Medicaid
C) net interest
D) defense
D
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Refer to Table 18-3. The table above outlines the rankings of three members of the U.S. Senate on three spending alternatives
Assume that Congress can spend additional revenue on only one of the three spending alternatives and that Bart, Lisa, and Maggie, all members of the Senate, participate in a series of votes in which they are to determine which of the spending alternatives should receive funding. Three votes will be taken: (1 ) Immigration Reform and Unemployment Benefits (2 ) Immigration Reform and Social Security Reform and (3 ) Unemployment Benefits and Social Security Reform.
A monopolist's supply curve is vertical
a. True b. False Indicate whether the statement is true or false
Suppose the market for shoes consists of three consumers. The accompanying table shows the quantity demanded at various prices for each consumer:PricePer PairPairs Demandedby PatPairs Demandedby LeighPairs Demandedby Chris$100010$75031$50173$302105The data suggest that Leigh:
A. has a greater demand for shoes than either Pat or Chris does. B. has a higher income than either Pat or Chris do. C. does not experience diminishing marginal utility. D. prefers shoes to other items that are for sale.
Refer to Table 10.2. The marginal product of the third unit of labor is:
A. 25. B. 50. C. 60. D. 160.