Ninety percent of spending on education happens at the ______________ level.
a. federal
b. federal and state
c. state
d. state and local
d. state and local
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
What is search activity and how does it influence consumer surplus when a rent ceiling creates a housing shortage?
What will be an ideal response?
Marginal revenue product is increasing as
A. the marginal physical product is increasing, other things equal. B. the amount of time is increasing, other things equal. C. the revenue from sales decreases, other things equal. D. the revenue from one more unit produced falls, other things equal.
Both Wisconsin and Illinois border Lake Michigan. The lake is becoming polluted, and both states are deciding whether or not to clean it. If Wisconsin decides to clean the lake, it will cost $1,200 and generate social benefits of $1,500 . However, Wisconsin will receive only $1,100 of those social benefits, while neighbor Illinois will receive the other $400 . If Illinois cleans the lake, it will
cost $700 and generate social benefits of $900 . However, Illinois will receive only $600 of those benefits, while Wisconsin will receive the remaining $300 . If either state does not clean the lake, it experiences a cost of $0 . If Wisconsin does not clean the lake and Illinois does, then _____. a. Wisconsin gains $200 and Illinois gains $100 b. Wisconsin gains $200 and Illinois loses $100 c. Wisconsin gains $300 and Illinois loses $100 d. Wisconsin gains $300 and Illinois gains $100