The government performs each of the following economic functions except
A. collecting taxes.
B. spending.
C. issuing regulations.
D. operating the price mechanism.
D. operating the price mechanism.
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A country producing a combination of 5 units of guns and 6 units of butter would be _________________ (outside/on/inside) the production possibilities curve
What will be an ideal response?
If the marginal total cost when moving from Option A to Option B is negative and the marginal total cost when moving from Option B to A is positive, which of the two options is better? What is the underlying principal behind the decision?
What will be an ideal response?
If all of the money currently spent on redistribution in the United States were directly transferred to the poor _____
a. it could turn the hard-core poor into the marginal poor b. it would not turn the hard-core poor into the marginal poor c. it is unclear what the effect would be on the hard-core poor d. the income of the poor would be raised above the current national average
Today, in the United States, imports are over
A) 17 percent of GDP. B) 1 percent of GDP. C) 8 percent of GDP. D) 4 percent of GDP.