For the U.S. federal government, mandatory spending refers to
A) spending that is not subject to Congress's annual appropriations process.
B) spending that never changes in amount from year to year.
C) spending on federal employee salaries.
D) spending that must be authorized by Congress each year.
A
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With limited exceptions, all Israeli citizens over the age of 18 are required to serve in the Israeli military. This is an example of
A) compulsory volunteerism. B) coalition building. C) bargaining. D) eminent domain.
Which of the following is ALWAYS true for a profit-maximizing single-price monopolist?
A) P = MC B) P = MR C) MR = MC D) MC = ATC
Which of the following is NOT one of the ways a budget surplus can be used?
A) to allow private saving to fall without any need for a decline in total investment B) to stimulate domestic investment C) to reduce foreign investment D) to increase the amount of borrowing from foreigners
If the U.S. dollar buys 50 Japanese yen, and 50 yen buy 75 Russian rubles, and 75 rubles buy 300 Israeli shekels, and the exchange rate of the dollar for the shekel is below 300,
a. there is an arbitrage opportunity b. the demand for all currencies (yen, ruble, shekel, dollar) will increase c. the market is in equilibrium d. the supply of all currencies (yen, ruble, shekel, dollar) will increase e. there is no possibility for arbitrage