Since most welfare programs are administered by the federal government, there is uniformity in both eligibility and the dollar value of benefits in a state by state comparison

a. True
b. False


B

Economics

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Which of the following is included in the investment component of GDP?

a. spending to build new houses b. spending to build new factories c. spending on business equipment such as welding equipment d. All of the above are included in the investment component of GDP.

Economics

When a state government chooses to build more roads, the required resources are no longer available for spending on public education. This dilemma illustrates the concept of:

A. full employment. B. marginal analysis. C. full production. D. opportunity cost.

Economics

Government lotteries are:

A. used by a large number of states to supplement their tax revenues. B. illegal in the United States but are a common source of revenue in other countries. C. used by local governments, but not by state governments. D. a form of progressive taxation.

Economics

Economists do not consider the smartphone industry perfectly competitive because

A. the government strictly regulates entry and exit. B. smartphone manufacturers each have a small market share. C. there are a large number of smartphone manufacturers. D. smartphones are heterogeneous.

Economics