Compared to Canada, Japan, Germany, and France, Social Security expenditures as a percentage of GDP of the United States is approximately
a. 12 percent and ranks among the lowest percent of the countries
b. 47 percent and ranks among the lowest percent of the countries
c. 12 percent and ranks among the highest percent of the countries
d. 47 percent and ranks among the highest percent of the countries
e. 77 percent and ranks among the highest percent of the countries
A
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Special-interest groups, such as the pharmaceutical lobby, often get what they demand because
a. politicians are rationally ignorant b. voters are rationally ignorant c. they engage in logrolling d. they represent the median voter e. none of the above
When individuals and businesses are permitted to trade freely over a larger market area
What will be an ideal response?
Which of the following shows the accurate sequence for establishing a new equilibrium in this graph?
a. E1 moves to E2; P1 moves to P2; Q1 moves to Q2; D1 moves to D2
b. D2 moves to D1; Q1 moves to Q2; P1 moves to P2; E1 moves to E2
c. P1 moves to P2; D1 moves to D2; E1 moves to E2; Q1 moves to Q2
d. D1 moves to D2; P1 moves to P2; Q1 moves to Q2; E1 moves to E2
A key difference between functional finance and sound finance is that in the functional finance approach, the government has the potential for:
A. a less active role in spending and taxing decisions. B. more active role in spending and taxing but only during depressions. C. no role since functional finance holds that on moral principle the budget should be balanced. D. a more active role in spending and taxing decisions.