Federal spending as a percentage of GDP is currently expected to
A. increase dramatically between 2014 and 2018.
B. stabilize at 22% between 2014 and 2018.
C. remain constant at 40% between 2014 and 2018.
D. decrease between 2014 and 2018.
Answer: B
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For a government subsidy on a good with an external benefit to result in the efficient amount of output being produced, what must be done?
A) The size of marginal external benefit must be accurately determined. B) The government must produce the product. C) Private production and private consumption must both be directly subsidized. D) The quantity demanded must be decreased to the efficient amount. E) Private production without the subsidy must be prohibited.
If an oligopolist is faced with a marginal revenue curve that has a gap in it, we may assume that:
A. it is colluding with its rivals to maximize joint profits. B. its demand curve is kinked. C. it is selling a standardized product. D. it is selling a differentiated product.
Which factor of supply would the introduction of e-mail into places of businesses be?
A. Expectation of the future B. Price of input C. Technology D. Number of sellers
Which of the following would not be considered an indirect tax?
a. A value-added tax b. A tax on wheat export c. A tax on imported automobiles d. A tax on the income of a computer manufacturer e. A sales tax on cigarettes