Continuing resolutions are:
a. budget agreements that allow agencies, in the absence of an approved budget, to spend at the rate of the previous year's budget.
b. guaranteed benefits for those who qualify for government transfer programs such asSocial Security and Medicare
c. agreements about total outlays, spending by major category, and expected revenues of the federal government.
d. budget resolutions that allow the federal government to allocate a fixed proportion of yearly outlays toward military related expenditures.
e. legislative actions undertaken to balance the budget.
a
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If real wages fall:
A) consumer demand is likely to increase. B) employers are likely to hire more workers. C) the level of economic production will always increase. D) the level of economic production will always decrease.
State whether each of the following goods and services is nonrival, nonexcludable or both:
a. A toll road b. A public park c. A lighthouse d. An art museum e. A radio broadcast of "A Prairie Home Companion"
If production indifference curves cross, this indicates that there are different ways to produce the same output level.
Answer the following statement true (T) or false (F)
Which of the following is not consistent with the efficient market hypothesis?
a. Stock prices should follow a random walk. b. Index funds should typically outperform highly managed funds. c. News has no effect on stock prices. d. There is little point in spending many hours studying the business pages looking for undervalued stocks.