Which of the following statements is CORRECT?
A) Since the mid-1940s, expenditures on national defense have increased considerably as a percentage of total federal government spending.
B) Since the mid-1940s, expenditures on income security and health programs have increased considerably as a percentage of total federal government spending.
C) Taken together, expenditures on national defense and on income security and health programs now account for less than half of all federal government spending.
D) Expenditures on national defense now account for more than twice as much federal government spending as expenditures on income security and health programs.
B
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According to the quantity theory of money, a shortage of money should result in deflation (falling prices) or negative growth (decreasing quantities of output)
Indicate whether the statement is true or false
Producers of paper products are most likely to be in favor of
A. Free trade in the paper product market but protectionism in the lumber market. B. Protectionism in the paper product market but free trade in the lumber market. C. Free trade in the paper product market and the lumber market. D. Protectionism in the paper product market and the lumber market.
According to the following table, what is the price index for 2021 if 2019 is the base year?
a. 1.47
b. 1.75
c. 147
d. 175
Which of the following finally brought the U.S. economy out of the Great Depression?
(A) World War I (B) The Korean War (C) World War II (D) The Vietnam War