Which of the following is an example of government discretionary spending?
A) defense spending
B) net interest paid on government debt held by the public
C) Social Security retirement payments
D) Medicare benefits for the elderly
A
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Hurricane victims in the United States are likely to receive emergency relief aid and embark upon reconstruction more rapidly than similar victims in India because
A) U.S. victims typically need the resources more than the victims in India. B) the U.S. economy has a more clearly defined set of property rights compared to the Indian economy. C) people in the U.S. are typically more charitable than people in India. D) the global economy is too dependent on the U.S. to let it falter.
Discuss how taxes affect product and input markets
What will be an ideal response?
The term capital budgeting refers to decisions
A) which are made in the short run. B) which concern the spreading of expenditures over a period lasting less than one year. C) where expenditures and receipts for a particular undertaking will continue over a relatively long period of time. D) where a receipt of cash will occur simultaneously with an outflow of cash.
Consider a firm operating with the following: price = 10; MR = 10; MC = 10; ATC = 10 . This firm is:
a. making an economic profit of 10. b. an example of monopolistic competition. c. going to go out of business in the long run. d. a monopolist for a product with a relatively inelastic demand. e. perfectly competitive in long-run equilibrium.