During the last four decades, defense expenditures have
a. accounted for approximately one-half of federal expenditures.
b. accounted for less than 10 percent of federal expenditures.
c. been increasing as a share of federal expenditures.
d. been declining as a share of federal expenditures.
D
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What types of unemployment will still exist when the economy is at the natural rate of unemployment?
A) frictional, structural, and cyclical unemployment B) frictional and cyclical unemployment only C) frictional and structural unemployment only D) structural and cyclical unemployment only
What is "tax incidence"? What determines tax incidence in a competitive market?
What will be an ideal response?
A good that has social costs that are equal to private costs has a price that is
A) too high. B) too low. C) just right. D) equal to marginal cost.
According to Robert Higgs,
a. World War II was a period of unique prosperity. b. prosperity came only after World War II ended. c. measures of GDP during World War II are accurate. d. civilian consumption of most items actually rose during World War II.