Inefficient use of resources leads to:
a. production bundles inside the production set.
b. production bundles outside the production set.
c. a reduction in the production set.
d. production of a combination on the production set.
A
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OECD data for 1960 through 1999 indicates that a 10 percent increase in government expenditures as a percent of GDP
a. increases economic growth by about 5 percent. b. increases economic growth by about 2 percent. c. has no effect on economic growth. d. reduces economic growth by about 1 percent.
Which statement is true?
A. Blacks have a lower poverty rate than Hispanics. B. Blacks have a poverty rate of about three times that of whites. C. Members of white families headed by females have a higher poverty rate than all black families. D. None of these statements are true.
The Gramm-Rudman-Hollings Act of 1985 created a
A. Mandated balanced budget by 2005. B. Debt ceiling. C. Prohibition against external financing of the debt. D. Deficit ceiling.
The three largest categories of spending by the Federal government in order from first to third would be
a. income security, net interest, and national defense b. national defense, net interest, and income security c. income security, health, and national defense d. health, income security, and national defense