Which of the following is an example of "pork barrel spending"?
A) Funds spent by the federal government in repairing national highways
B) Funds spent by the Fed to bail out large financial institutions during recessions
C) Government funds spent by a senator for building fountains in his home state
D) Funds spent by the government in providing unemployment insurance
C
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The money aggregate M1 consists of
A) currency and savings accounts. B) currency and checking deposits, including traveler's checks. C) only checking deposits and time deposits. D) checking accounts, savings accounts and Treasury bills.
Consider a market for used cars. Suppose there are only two kinds of cars: lemons and good cars. A lemon is worth $1,500 both to its current owner and to anyone who buys it. A good car is worth $6,000 to its current and potential owners
Buyers can't tell whether a car is a lemon until after they have bought the car. What do economists call the problem that buyers of used cars face? What kind of cars (lemons, good cars, or both) are traded? Explain and substantiate your answer.
A change in input prices has no impact on a firm’s budget line.
Answer the following statement true (T) or false (F)
Since 1940 the percentage of elementary and secondary educational expenditures financed by local governments _____
a. declined by around 10 percentage points b. increased by around 10 percentage points c. increased by around 5 percentage points d. declined by around 15 percentage points