Chronic budget deficits can be attributed to:
A. unfunded liabilities.
B. voters wanting government programs but not wanting to pay taxes.
C. inappropriate monetary policy.
D. state budget laws.
Answer: B
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One of the largest challenges with foreign aid today is:
A. finding ways to ensure it is going to the best uses possible. B. raising enough of it to have any significant impact on the market. C. countries' overreliance on it removing incentives to better themselves. D. severely diminishes some nations’ ability to help their own citizens.
Which of the following is not true with regard to pollution control through transferable pollution rights?
a. It does not require the government to know in advance the pollution abatement techniques to be utilized. b. It creates an incentive to develop improved pollution abatement technologies c. It ultimately requires all firms to reduce pollution in equal amounts. d. It established private property rights that can be sold.
The Keynesian idea that the government can achieve a specific level of GDP by changing government spending and taxing was known as
a. fine-tuning b. supply-side stimulation c. classical manipulation d. hunting for the Phillips curve e. crowding out
Which situation below would represent a surplus in the fertilizer market?
A. quantity demanded is 1.2 million; quantity supplied is 1.1 million. B. market price $2.00 per bag; equilibrium price $2.25 per bag. C. market price $2.50 per bag; equilibrium price $2.00. D. quantity supplied this year is 25% greater than quantity supplied last year.