Measured as a share of GDP, federal spending during 2001-2010
a. increased more rapidly than during the 1990s.
b. increased less rapidly than during the 1990s.
c. declined after increasing rapidly during the 1990s.
d. was virtually unchanged during the decade.
A
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Explain how the short-run industry supply curve for a perfectly competitive market is derived.
What will be an ideal response?
To an economist, the field of industrial organization answers which of the following questions?
a. Why are consumers subject to the law of demand? b. Why do firms experience diminishing marginal productivities of their inputs? c. How does the number of firms affect prices and the efficiency of market outcomes? d. How can government intervention improve industrial production when externalities are present?
The Federal Reserve System
A) is the central bank of the United States. B) controls the money supply. C) is the lender of last resort. D) handles the sale of U.S. Treasury securities. E) all of the above
Why might people object to a regressive tax structure?
What will be an ideal response?