An example of a standardized good is:
A. grain.
B. granola cereal.
C. hamburgers.
D. digital cameras.
A. grain.
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If the marginal propensity to consume is 0.75 and investment spending increases by $200 billion, by how much will equilibrium output increase?
a. $350 billion b. $150 billion c. $200 billion d. $266.7 billion e. $800 billion
State governments' main source of revenue is
a. property taxes. b. income taxes. c. excise taxes. d. sales taxes.
Between the years of 2001 and 2003, what happened to the structural deficit?
a. It declined rapidly. b. It fell steadily. c. It increased steadily. d. It remained fairly constant.
Which of the following is not an example of moral hazard?
A. People take poor care of their health because they have health insurance. B. People drive recklessly because they have medical insurance. C. People don't lock their doors because they have theft insurance. D. All of these are examples of moral hazard.