Federal government purchases, as a percentage of GDP,
A) have fallen since the early 1950s.
B) have risen since the early 1950s.
C) have remained roughly the same since the early 1950s.
D) rose from the early 1950s until the mid 1980s, and then fell.
A
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The part of a commercial bank's reserves that are larger than desired are called
A) additional reserves. B) required reserves. C) excess reserves. D) nonrequired reserves. E) unnecessary reserves.
Which one of the following would be an effective fiscal policy in raising national income and reducing unemployment?
A. a decrease in government expenditures B. an increase in net taxes C. cutting back on unemployment benefits D. A reduction in income taxes
One of the difficulties of the government privatizing a common resource is:
A. figuring out who owns what when many are using the resource. B. deciding which individuals will have to decrease their consumption. C. compounded the more users there are. D. All of these statements are true.
We know that increases in population increase the market demand for various goods. The prices of those goods will increase the most if the elasticity of supply is
a. very large b. equal to one c. greater than 3 d. very small e. finite