Which of the following is heavily subsidized by state and local governments?
A. food stamps
B. Social Security
C. Medicare
D. public education
Answer: D
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In the foreign exchange market, the demand for dollars increases and the demand curve for dollars shifts rightward if the
A) U.S. interest rate differential increases. B) foreign interest rate rises. C) exchange rate falls. D) expected future exchange rate falls. E) U.S. interest rate falls.
As output increases, the slope of the curve showing the firm's average fixed cost is
A) first negative, then positive. B) first positive, then negative. C) always negative. D) always positive.
In 1870, the richest country in the world was
a. Germany. b. Japan c. the United Kingdom. d. the United States.
Which of the following is not held constant along a given demand curve for a good?
A. Consumer tastes. B. Price of the good itself (own price). C. Consumer's income. D. The price of substitute goods.