The federal government has several economic roles; name three: (1) _____, (2) _____ and (3) _____.
Fill in the blank(s) with the appropriate word(s).
income redistribution; stabilization; economic regulation, spend and tax
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A local restaurant offers an "all you can eat" Sunday brunch for $12. Jenica eats two servings but leaves half of a third helping uneaten. Why?
a. Her marginal value of brunch has fallen below $12. b. Her marginal value of additional food has fallen below $4 ($12 divided by 3 servings). c. Her marginal value of an additional bite of food has fallen to zero. d. The total value she places on brunch today exactly equals $12.
An insurance company that is the only company selling mandatory health insurance in a state is an example of which market structure?
What will be an ideal response?
If a $6 billion economy is growing at a real rate of 5 percent a year and there is no inflation, what must the government do to maintain a constant debt-to-GDP ratio?
A. Run a deficit of $600 million B. Run a deficit of $300 million C. Run a surplus of $300 million D. Balance the budget
Suppose the current unemployment rate is 3 percent. If it rises to 4 percent
A. the economy will move closer to the production possibilities curve. B. the economy will move up along the production possibilities curve. C. the production possibilities curve will shift inward. D. the economy will operate farther inside the production possibilities curve.