The fastest growing category of government expenditure is
A) transfer payments.
B) defense spending.
C) grants to state and local governments.
D) government purchases.
A
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The disruption caused by international trade is
a. fundamentally different from some of the other disruptions caused by the other workings of a market economy. b. not fundamentally different from all the other disruptions caused by the other workings of a market economy. c. fundamentally different from all the other disruptions caused by the other workings of a market economy. d. not fundamentally different from some of the other disruptions caused by the other workings of a market economy.
One effect of speculators is to iron out price fluctuations because this is the way they make their profits
a. True b. False Indicate whether the statement is true or false
Currencies that are not backed by precious metals of equal value are called:
a. Near money. b. Repurchase agreements. c. Eurodollars. d. Fiat money. e. Legal tender.
Susan won $2,000 at the blackjack tables on her birthday. Her winnings are an example of
a. permanent income. b. life-cycle income. c. transitory income. d. an in-kind transfer.