The portion of Federal Spending devoted to national defense has
A. decreased markedly with small increases during Vietnam, the early 1980s, and 2001.
B. remained constant since 1960.
C. bounced around with no apparent pattern.
D. risen constantly since 1960.
Answer: A
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The charitable organization Creating Hope International trains women in Afghanistan to become tailors. This effort reduces
A) entrepreneurship differences between advanced and developing economies. B) human capital differences between advanced and developing economies. C) physical capital differences between advanced and developing economies. D) agricultural differences between advanced and developing economies. E) manufacturing differences between advanced and developing economies.
All of the following have enhanced the Fed's credibility in conducting monetary policy except
A) discontinuing the policy of announcing whether it considered the economy to be at greater risk of inflation or recession following each FOMC meeting. B) making the minutes of the open market committee meetings public. C) following through with changes it has announced. D) revealing the Fed's target for the federal funds rate.
If a firm raised its price and discovered that its total revenue fell, then the demand for its product is
A) relatively elastic. B) perfectly inelastic. C) perfectly elastic. D) relatively inelastic.
Refer to Table 6-6. Based on the data in the table, between a price of $9.99 and $14.99, the price elasticity of demand for books is
A) -14.8. B) -1.35. C) -0.74. D) -1.16.