Since World War II, most of the growth in U.S. government outlays is attributable to rapidly growing federal government transfer programs
a. True
b. False
Indicate whether the statement is true or false
True
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The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
Is this game a prisoner's dilemma?
A. Yes, because if both firms played their dominant strategy, they each would earn a higher payoff than when they both play their dominated strategy. B. No, because cheating yields the highest payoff for both firms. C. Yes, because if both firms played their dominated strategy, they each would earn a higher payoff than when they both play their dominant strategy. D. No, because neither firm has a dominant strategy.
(Last Word) A caller to a radio talk show states that protesters against globalization are a collection of "anarchist punks, naïve college students, and trade union radicals." This is an example of
What will be an ideal response?
Factors of production are the most likely to earn economic rent when they:
A. are used by many different firms. B. are fixed in the short run. C. have high reservation prices. D. cannot easily be duplicated.
A once-and-for-all jump in the price level would initially cause a(n)
a. upward shift in the consumption function. b. upward movement along the consumption function. c. downward shift in the consumption function. d. downward movement along the consumption function.