Which of the following is the largest component of federal spending today?
A. national defense
B. Medicare
C. Social Security
D. income security
Answer: C
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In the United States, the use of fiscal policy tools to stabilize the economy gained prominence during
A) the Clinton administration. B) the Kennedy administration. C) the Reagan administration. D) the depression era.
The amount of a good sold in a market at a particular price cannot exceed the quantity
A. demanded at that price. B. supplied at that price. C. sold when there is a price floor. D. sold when there is a price ceiling.
Suppose you read in the French daily Le Monde that saving in France in 2003 was greater than the intended investment French businesses had hoped to make. You would conclude that in 2003 the French economy was
a. in equilibrium, and no change occurred in its national income b. not in equilibrium, and its national income rose c. not in equilibrium, and its national income fell d. in equilibrium, and its national income rose e. in equilibrium, and its national income fell
Refer to the information provided in Figure 6.6 below to answer the question(s) that follow.
Figure 6.6Refer to Figure 6.6. Bill's budget constraint is BD. Bill's income is $600, the price of a bell pepper is $1, and the price of a bag of black beans is $2. At point D Bill is buying ________ bell peppers and ________ bags of black beans.
A. 600; 0 B. 300; 150 C. 600; 300 D. 0; 300