Problems with the federal government budget process include:
a. tough choices to be made by Congress each year on which entitlement programs will receive full support.
b. the constitutional requirement of Congress to balance the budget on an annual basis
c. an overly detailed budget that allows Congress to reward friends, thereby discouraging restraint on spending.
d. a short review period for Congress that results in poor choices in funding programs.
e. Congress having too much control over the budgetary process.
c
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Suppose the company that owns the vending machines on your campus has doubled the price of a can of soda. If they then still sell almost the same number of sodas per day, this suggests:
A. there are few other places to purchase soda on campus. B. the price elasticity of demand for soda is equal to 1. C. students do not have good nutritional information. D. soda purchases represent a large fraction of students' budgets.
Which of the following is the best example of a pair of complements?
a. ?Milk and coffee b. ?Coffee and tea c. ?CDs and DVDs d. ?Hiking boots and athletic shoes e. ?Paperback books and hard cover books
What is the reason that stabilization policies do NOT have an immediate effect on an economy?
A) Consumers are slow to catch up on spending. B) Imports come into the country too fast. C) Exports often are not shipped fast enough. D) There is a time lag for policies to take effect.
By fixing the mint price of gold among commercial nations under the Gold Standard, the exchange rate risk falls significantly, thus encouraging trade
Indicate whether the statement is true or false