Well over half of all state and local government expenditures goes towards (1) _____; (2) _____; and (3) _____.
Fill in the blank(s) with the appropriate word(s).
education; health; welfare
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Which movement between two points represents economic growth?
A. J to K
B. K to L
C. L to M
D. M to N
Figure 36-4
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Which of the situations illustrated in Figure 36-4 shows a currency appreciation leading to disinflation?
A. 1 B. 2 C. 3 D. 4
Bobby makes a New Year's resolution to lose weight. On January 3rd, he decides to go to Ben amp; Jerry's for ice cream instead of going to the gym. Using the concept of revealed preference, economists would most likely conclude that Bobby:
A. is not a rational individual. B. actually gains more utility from ice cream than working out. C. has changed his preferences. D. has no choice over the actions he takes.
Each of the following is a determinant of demand except a. tastes
b. production technology. c. expectations. d. the prices of related goods.