Which of the following is an exhaustive governmental outlay?
A. A federal $5,000 subsidy check to an Illinois farmer.
B. A Temporary Assistance to Needy Families payment made by the state of New York.
C. A NASA payment to Boeing Corporation for space hardware.
D. A federal old age insurance payment to a retired coal miner.
Answer: C
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Which of the following would be included in the total costs of production when an entrepreneur tries to compute her economic profit?
A) Foregone wages B) Foregone interest C) Foregone rent D) All of the above. E) None of the above.
The main difference between a sterilized intervention and unsterilized intervention in the foreign exchange market is:
A) a sterilized intervention is coordinated with other nations B) an unsterilized intervention does not change the exchange rate C) an unsterilized intervention does not change the monetary base D) a sterilized intervention does not change the monetary base
The removal of a price ceiling in a market results in:
a. an increase in the market price. b. a shortage in the market. c. over-production of the commodity and a surplus. d. a fall in the market price. e. abnormal profits for producers.
If actual output is greater than the full-employment level of output, we should expect wages to increase over time
a. True b. False