Between 1930 and 1980, government expenditures as a percent of GDP in the United States
a. more than tripled.
b. remained constant at 10 percent.
c. declined from 30 percent to 20 percent.
d. increased from 30 percent to 40 percent.
A
You might also like to view...
Given the budget line in the above figure, what is the household's real income in terms of pizzas per month?
A) 5 pizzas per month B) 4 pizzas per month C) 3 pizzas per month D) All of above represent the household's real income.
Refer to Figure 2-8. What is the opportunity cost of one dozen roses?
A) 0.4 dozen orchids B) 2.5 dozen orchids C) 7.25 dozen orchids D) 16 dozen orchids
The total amount of spending on nonresidential structures, equipment, software, residential structures, and business inventories in a given period of time is called:
A) net exports. B) government consumption and investment. C) gross private domestic investment. D) personal consumption.
A short-run aggregate supply curve shows the
A) amount of a particular good producers are willing and able to buy at a particular price, ceteris paribus. B) real output (Real GDP) producers are willing and able to sell at different price levels, ceteris paribus. C) real output (Real GDP) people are willing and able to buy and to sell at different price levels, ceteris paribus. D) real output (Real GDP) people are willing and able to buy at different price levels, ceteris paribus.