The sacrifices made by societies in order to engage in military spending represent:
A. the nominal costs of military spending.
B. the real costs of military spending.
C. the opportunity costs of military spending.
D. the excessive costs of military spending.
Answer: C
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Governments can discourage consumption of certain goods by:
A. a subsidy to consumers in those markets. B. taxing substitute goods. C. imposing a minimum price above the equilibrium price. D. None of these policies decrease consumption of goods.
The bulk of exports from industrial countries are
a. manufactured goods b. primary products c. agricultural goods d. raw materials e. raw sugar products
Which contingency theory focuses on the readiness of the employees?
a. path-goal model b. life cycle model c. vroom-yetton model d. fiedler model
Supply-side economics is based on the theory that:
A. budget deficits will stimulate demand, output, and employment. B. budget deficits will lead to higher interest rates, which will weaken their expansionary impact. C. higher tax rates will increase tax revenues. D. increases in aggregate supply lower the price level.