Which of the following is the largest category of federal government expenditures?
A) transfer payments B) grants to state and local governments
C) interest on the debt D) defense spending
A
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Securities are ________ for the person who buys them, but are ________ for the individual or firm that issues them
A) assets; liabilities B) liabilities; assets C) negotiable; nonnegotiable D) nonnegotiable; negotiable
Amajor cause of the Great Recession was:
a. Moral hazard. b.Excessive foreign exchange speculation. c. Contractionary fiscal policies. d. Lack of incentives for homeowners. e. None of the above.
The benefits principle states that the users of a service should pay for that service.
Answer the following statement true (T) or false (F)
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.