Annual expenditures by the federal government exhibited an upward trend, rising from $3 billion in 1930 to more than $1 trillion in 2010
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The slope of an indifference curve is equal to the ratio of the ____ of the good on the horizontal axis to the ____ of the good on the vertical axis
a. marginal utility (MU); marginal utility (MU) b. total utility (TU); total utility (TU) c. marginal product (MP); marginal product (MP) d. price (P); total utility (TU)
In calculating the CPI, a fixed basket of goods and services is used. The quantities of the goods and services in the fixed basket are determined by
a. surveying consumers. b. surveying sellers of the goods and services. c. working backward from the rate of inflation to arrive at imputed values for those quantities. d. arbitrary choices made by federal government employees.
Public goods can be provided publicly
Indicate whether the statement is true or false.
Whenever the balance on the current account (CA) is negative, it indicates that:
a) the trade deficit b) total spending (GNE) in the economy is greater than income (GNDI) and is financed by barrowing from abroad c) domestic investment is less than national savings d) income (GNDI) is greater than total spending (GNE) in the economy and the country is a net lender to the rest of the world