The largest expenditure of the U.S. Federal government is for:
A. Education
B. National defense
C. Pensions and income security
D. Interest on public debt
C. Pensions and income security
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Which of the following is most likely to result in a decline in the economic growth of a nation?
a. The installation of a network of irrigation ditches and pumping stations to grow fruits and vegetables in parts of southern California b. The invention of a threshing machine for harvesting grains c. Increased government funding for higher-secondary education d. Emigration by the citizens of Nomanzia, an island country, when a politically repressive regime took office
The better the information provided to financial markets the:
A. greater will be the flow of funds in these markets. B. greater the amount of funds transferred between savers and borrowers, though risk increases. C. higher the return required by lenders. D. less the amount of funds transferred between savers and borrowers.
If elasticity of demand is 10, a 1% increase in price will lower quantity demanded by
A. .1%. B. 1%. C. 10%. D. 100%.
When a specialized worker gains insights into a particular task that leads to better production methods, this is called:
A. continuity. B. innovation. C. specialization. D. repetition.