Which of the following is a merit good in the United States?
a. public housing
b. chess
c. seat belts
d. defense
e. bread
A
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The recognition time lag is the time that elapses between
A) when an economic problem manifests itself and it is officially acknowledged. B) the recognition of an economic problem and implementing policies to solve it. C) implementing policies to solve an economic problem and when the results of that policy can be measured. D) the beginning of the budgetary process and the final budget resolution.
The y-coordinate of an ordered pair specifies the
a. diagonal location of the point. b. vertical location of the point. c. horizontal location of the point. d. quadrant location in which the point is located.
The median voter
a. is the voter exactly in the middle of the distribution. b. is the voter whose preferred outcome beats any other proposal in a two-way race. c. always has more than half the votes on his side in a two-way race. d. All of the above are correct.
Until the year _____, there was a clear line of demarcation between commercial banks and thrift institutions.
Fill in the blank(s) with the appropriate word(s).