In classifying expenditures, which of the following is an illustration of an “object”?

A. Arson investigation
B. Fire Department
C. Materials and supplies
D. Public Safety


Answer: C. Materials and supplies

Economics

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This led to a wide-ranging, and continuing, debate over the best way for government to respond to the recession and its aftermath.

What will be an ideal response?

Economics

In this graph, at point e1, output level is ______.


a. above the potential
b. below the potential
c. at the potential
d. not shown

Economics

Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:

A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.

Economics

Unlike consumers and business firms, the public sector has no maximizing goals.

Answer the following statement true (T) or false (F)

Economics