Real (adjusted for inflation) federal spending per person in the United States
a. has increased by approximately 10 percent per decade during the last 225 years.
b. increased more rapidly during the nineteenth century than during the twentieth century.
c. in 2012 was approximately 80 times the level of 1916.
d. increased rapidly during the first half of the twentieth century but has changed very little since 1950.
C
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The above table shows Homer's total utility from boxes of doughnuts. As Homer's consumption of doughnuts increases
A) both his total utility and his marginal utility increase. B) his total utility increases, but his marginal utility decreases. C) his total utility decreases, but his marginal utility increases. D) both his total utility and his marginal utility decrease.
If a firm decides to ignore the reactions of its rivals to its policies, the appropriate model to analyze its behavior is
A. game theory. B. perfect competition. C. monopoly. D. cartels.
An externality is the impact of
a. society's decisions on the well-being of society. b. a person's actions on that person's well-being. c. one person's actions on the well-being of a bystander. d. society's decisions on the poorest person in the society.
If there is a technological inprovement, PPF curve will shift inward.
Indicate whether the statement is true or false.