Data across more than 50 countries shows that the U.S. ratio of government expenditure to GDP is
a. much higher than the median ratio.
b. slightly below the median ratio.
c. one of the two highest ratios.
d. one of the two lowest ratios.
Ans: b. slightly below the median ratio.
You might also like to view...
In 2007, the U.S. sold $73 million of cigarettes to Iran. Iran paid for these cigarettes using
A) dollars. B) rials, the Iranian currency. C) euros. D) pounds.
With a monopoly, the consumer's surplus is lower than it would be with a perfectly competitive industry
a. True b. False Indicate whether the statement is true or false
An increase in the price of a good would
a. increase the supply of the good. b. increase the amount purchased by buyers. c. give producers an incentive to produce more. d. decrease both the quantity demanded of the good and the quantity supplied of the good.
Services include all of the following EXCEPT
A. school tuition. B. the face value of a corporate bond. C. payment for a restaurant meal. D. payment for a doctor's visit.