Expenditures on education equal about _____ of state and local government financial outlays
a. one quarter
b. one third
c. one half
d. two thirds
b
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In the IS-LM model, the two variables that are affected by the interest rate are
a. money supply and money demand. b. money supply and investment spending. c. money demand and consumption. d. money demand and investment spending. e. none of the above.
Which one of the following is not true about poverty in the United States? a. The percentage of the population below the poverty line has decreased significantly since 1960 in the U.S., but not for every racial group
b. Blacks and Hispanics are disproportionately poorer. c. Over half of single-mother headed households are considered to be poor. d. Young families and large ones are at a high risk of living in poverty. e. It has declined steadily since 1960.
A tax on suppliers will cause the equilibrium price paid by the consumer to ________ and the equilibrium quantity to ________.
A. increase, increase B. decrease, decrease C. increase, decrease D. decrease, increase
The only firms that do not have market power are
A) firms in industries with low barriers to entry. B) firms that do not advertise their products. C) firms in perfectly competitive markets. D) firms that sell identical products.