The largest component of federal government spending is for
A) Medicare and Medicaid.
B) interest on the national debt.
C) prisons.
D) national defense.
E) education.
A
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Mothers Against Drunk Drivers (MADD) campaigned to increase the legal penalties of drunk driving. This successful campaign ________ of drunk driving
A) increased the marginal benefit B) decreased the marginal benefit C) increased the marginal cost D) decreased the marginal cost E) had no effect on the marginal cost or marginal benefit but did affect the total benefit
A U.S. citizen buys a newly issued share of stock in England, paying for his order with a check, which the British company deposits in its own U.S. bank account in New York. How is this transaction accounted for in the balance of payments?
A) financial account, U.S. asset export B) current account, U.S. service import C) current account, British good export D) financial account, British asset import E) financial account, U.S. asset import
A way in which government can attempt to solve the problems caused by information asymmetry in the marketplace is:
A. statistical discrimination. B. screening. C. disclosure laws. D. building a reputation
Refer to Exhibit 2-5. Given available resources and technology, this economy can produce 50,000 television sets and 40,000 fax machines only if it chooses to produce at point
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