All the welfare programs combined are twice as large as Social Security
Indicate whether the statement is true or false
F
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Allocative efficiency
a. is important for economic theory but not relevant to environmental policy b. calls for the equality of additional benefits and additional costs c. is automatically achieved when cost-effectiveness is achieved d. requires that the total costs to society linked to environmental policy are equivalent to the associated total benefits
Which of the following policies supports the concept of continual adjustment of the money supply to achieve macroeconomic goals?
A. Restrictive policy. B. Fixed rules. C. Discretionary policy D. Fiscal policy.
If the government decides to increase spending on defense:
A. the aggregate demand curve will shift out temporarily. B. the aggregate demand curve will shift in permanently. C. the aggregate demand curve will shift in temporarily. D. the aggregate demand curve will shift out permanently.
_______ ________theory argues that the greater the? rewards, the more rapid the pace of technology. And greater rewards spur research and development.
Fill in the blank(s) with the appropriate word(s).