Government waste implies that the public sector is not producing as many services as it could with the resources at its disposal.
Answer the following statement true (T) or false (F)
True
Government waste causes an economy to produce less than its potential.
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At a low wage rate,
a. there is no substitution effect b. there is no income effect c. the substitution effect usually outweighs the income effect d. the income effect usually outweighs the substitution effect e. the disutility of market work is usually high
People who live in countries with ________ average incomes generally live __________ lives.
A. lower; shorter B. lower; longer C. higher; shorter D. higher; more meaningful
School Board Voters' Ordered PreferencesDavidErnieFionaNew gymNew libraryNew computer labNew libraryNew computer labNew gymNew computer labNew gymNew libraryIf a pair-wise majority vote was held to determine which school project gets funded and the voters' preferences are in the given table, who will be happiest if the lab and library are voted on first?
A. David B. Ernie C. Fiona D. All people would be equally happy.
Which of the following made monopoly and restraints of trade criminal offenses against the federal government?
A. Celler-Kefauver Act of 1950. B. Wheeler-Lea Act of 1938. C. Clayton Act of 1914. D. Sherman Act of 1890.