The fastest growing component of the annual federal budgets since 2000 is
A) entitlement payments. B) the education budget.
C) funding for NASA. D) funding for health research.
A
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It pays the firm to produce only if total variable costs exceed total revenue.
Answer the following statement true (T) or false (F)
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
All of the following companies export over one quarter of their production except
A. Oracle. B. Caterpillar Tractors. C. McDonalds. D. Boeing.
During a severe recession, appropriate economic policy might include
A. An open market purchase by the Fed, a decrease in the tax rates, or a decrease in the budget deficit. B. An open market purchase by the Fed, a decrease in the discount rate, or a decrease in government regulation. C. An open market sale by the Fed, a decrease in the discount rate, or an increase in the budget deficit. D. A decrease in government spending, a decrease in the discount rate, or a decrease in government regulation.