Spending on programs that ________, such as Social Security and Medicare, is classified as entitlement and mandatory spending.
A. is authorized by Congress on an annual basis
B. has been authorized by prior law
C. is authorized only in times of budget surpluses
D. is authorized only in times of budget deficits
Answer: B
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Larry Lawnlover is trying to decide whether it would be more efficient to trim his lawn with a hand-operated clipper or to buy and use an electrically operated weed-trimmer
Which of the items below will help determine the more efficient choice for Larry? A) Larry's dislike for the noise created by power tools B) Larry's fear of being injured while using power tools C) The sensitive skin on Larry's hand, which causes him to develop, blisters easily D) All of the above. E) None of the above.
The theory of comparative advantage suggests that nations should produce a good if they
a. have the lowest opportunity cost. b. have the lowest wages. c. have the most resources. d. can produce more of the good than any other nation.
Which of the following is included in "labor standards"?
I. minimum wages II. safety standards III. child labor regulations a. I b. I and II c. II and III d. I, II, and III
"Only in a progressive tax system does the amount of taxes increase as income increases." Do you agree or disagree? Explain
What will be an ideal response?