The federal government spends the largest amount of its budget on Social Security, which is an example of
a. federal aid to state and local government
b. discretionary spending '
c. mandatory spending
d. defense spending
Answer: c. mandatory spending
Economics
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In the 1980s, the U.S. had recessions in ________ and __________.
Fill in the blank(s) with the appropriate word(s).
Economics
Considering both product markets and resource markets, most economic decision makers participate in the economy as both buyers and sellers
a. True b. False
Economics
If the CPI declines from 200 to 190, prices have declined by
A. 5%. B. 10%. C. 19%. D. 20%.
Economics
Refer to the data. The marginal cost curve would intersect the average variable cost curve at about:
A. 2 units of output.
B. 4 units of output.
C. 6 units of output.
D. 7 units of output.
Economics