Simplifying the budget document by concentrating only on major groupings and eliminating line items would:
a. ensure that cabinet members spend more time on administering an approved budget and defending a proposed budget.
b. require longer-term economic forecasts that are difficult to obtain
c. prevent elected officials from including projects they prefer for their personal gains in the budget.
d. increase the flexibility of the discretionary fiscal policy implemented by the federal government.
e. require shorter-term economic forecasts that are easy to obtain.
c
You might also like to view...
Hailey's income is $40 per week. She spends all of it on coffee (C) and doughnuts (D). Coffee costs $2 per cup and doughnuts cost $1 each. Her marginal rate of substitution for coffee with doughnuts is D/C. How many cups of coffee and how many doughnuts will she purchase each week?
A. 15 cups of coffee and 10 doughnuts B. 10 cups of coffee and 20 doughnuts C. 20 cups of coffee and 10 doughnuts D. 5 cups of coffee and 30 doughnuts
To maximize profits, a perfectly competitive firm should produce at an output up to the point where
A. the difference between price and marginal cost is at its maximum. B. total cost equals total revenue. C. price equals marginal cost. D. total revenue equals variable cost.
Cost is always a forgone
What will be an ideal response?
If demand is inelastic and the price of a product decreases by 100 percent, then
A) the change in quantity demanded is less than 100 percent. B) the change in quantity demanded is equal to 100 percent. C) the change in quantity demanded is greater than 100 percent. D) the decrease in quantity demanded is greater than 0 percent.