Over $140 billion was spent on transportation in 2007, with the lion's share being handled by state and local governments. Roughly 78 percent of transportation spending was allocated to
a. enforcement of fuel efficient standards
b. the highway system
c. bridges
d. city streets
e. traffic lights
B
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In order for a bank to earn as much profit as possible, its excess reserves should be:
a. equal to its required reserves. b. as small as possible. c. less than its vault cash. d. growing at a constant rate.
When net exports are negative,
a. exports are greater than investment b. depreciation is greater than net investment c. imports are greater than investment d. exports are greater than imports e. imports are greater than exports
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.
What is an externality?
What will be an ideal response?