Responsibility for developing the President's budget lies with _____
a. the Congressional Budget Office
b. the Treasury Department
c. the Council of Economic Advisers
d. the Office of Management and Budget
d
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State-Owned Enterprises (SOEs) can succeed when
a. they are free from political interference and can make decisions according to economic criteria b. the government is clear about the SOE's objectives and enforces the rules c. the government is ready to subsidize the SOE in bad years d. only the most crucial firms are state owned e. SOEs never succeed according to economic criteria
A dieter who prefers to eat small portions at his next meal, but chooses a large portion at mealtime when it arrives is:
A. dynamically consistent. B. statically consistent. C. exhibiting a present bias. D. exhibiting a substitution bias.
To construct a supply curve, an economist needs data on price and quantity. Each point on the supply curve is
a. supply of the product. b. a quantity supplied at that price. c. the amount that people want to buy. d. the amount people want to sell to buyers of different incomes. e. All of the above are correct.
Which of the following is closest to being a full economic union?
A. The North American Free Trade Agreement (NAFTA) B. The Trans-Pacific Partnership C. The Southern Common Market (MERCOSUR) D. The European Union (EU)