Governments in market economies usually have significant control over
a. investment spending.
b. personal consumption spending.
c. import spending.
d. education spending.
d
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Under a marginal cost pricing rule, a regulated natural monopoly
A) makes a positive economic profit and there is a deadweight loss. B) makes zero economic profit and there is no deadweight loss. C) incurs an economic loss and there is a deadweight loss. D) incurs an economic loss and there is no deadweight loss.
Full employment describes the condition in which
a. 100 percent of the civilian labor force is employed. b. 95 to 96 percent of the civilian labor force is employed. c. there is no frictional unemployment. d. unemployment is 10 percent or less.
When an economy is in equilibrium,
A) planned expenditures exceed production and income. B) there is no savings nor investment. C) government tax revenues equal planned government expenditures. D) production and income equal planned expenditures.
A government program, once started, perpetuates itself because those in charge of administering the program often become its strongest supporters
a. True b. False