Which of the following represented the largest percentage of the U.S. federal budget in 2007?
a. income support, Social Security, and welfare
b. defense
c. education
d. agriculture
e. interest payments on the public debt
A
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Which one of the following was not a goal of the Navigation Acts?
a. Protect and encourage English and colonial shipping. b. Ensure that major colonial imports from Europe were shipped from British ports. c. Ensure that the bulk of desired colonial products were shipped to England. d. Prevent West Indian planters from increasing their control over the U.S. colonial trade.
One of the most dramatic bank failures of the 1980s was the demise of Chicago's Continental Illinois Bank. Continental ran into problems because it
a. acquired deficient earth moving machinery from Caterpillar b. acquired a series of unsound assets from Penn Square Bank of Oklahoma City c. invested too heavily in the Brazilian economy in the 1970s d. financed deficit spending by Archer Daniels Midland e. sued the FDIC and failed
In the OECD countries, there is a negative relationship between output per capita in 1950 and
A) growth since 1950. B) output per capita in the 1990s. C) distance from the equator. D) population. E) none of the above
The most that someone would pay today to receive a certain sum at some point in the future is known as
A. the interest rate. B. economic profit. C. future value. D. present value.