When Dr. Katy Stack treats a military veteran at a veterans' administration hospital, the money she receives is part of the _________ category(ies) of government spending
a. educational
b. veterans' benefits
c. public assistance
d. international aid
e. income support, Social Security, and welfare
B
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The "opportunity cost" of an action is
What will be an ideal response?
The main reason for holding _______ instead of ______ is that _______ is (are) useful for buying things.
a) bonds; money; bonds b) demand deposits; currency; demand deposits c) currency; demand deposits; currency d) money; interest-bearing assets; money e) interest-bearing assets; money; interest-bearing assets
If desired investment exceeds actual investment, then
A. Inventories are less than the desired level. B. Cyclical unemployment exists. C. Inventories are accumulating beyond desired levels. D. A recessionary GDP gap will emerge.
When there is a shift in autonomous expenditure, why is there a multiple expansion of income and real GDP? Trace the multiplier effect through the first four rounds when there is an increase in autonomous expenditure of $40 billion and the marginal propensity to consume is 0.75