The largest budgetary expense for a typical state or local government is
a. education.
b. Medicare.
c. highways.
d. income security.
a
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All recessions are due to external shocks
Answer the following statement(s) true (T) or false (F)
From the table above, which gives data about the U.S. labor market in 1933, the labor force is
A) 48 million. B) 60 million. C) 65 million. D) 100 million. E) 12 million.
Assume that goods X and Y are substitutes and are produced in perfectly competitive markets. All else constant, in the short run, a decrease in the supply of good X would cause:
A) an increase in the demand for good Y. B) a decrease in the demand for good Y. C) an increase in the supply of good Y. D) a decrease in supply of good Y.
At a fair carnival roulette wheel, a player can either win $10, $30, or $80 . If it costs $30 to play, would an individual gain or lose from playing the game?
a. Gain b. Lose c. Breakeven-neither gain nor lose d. None of the above