Which is the fastest growing component of the federal government budget?
A. spending on the military and the war on terrorism
B. spending to improve the nation's public education
C. spending on entitlements
D. spending to improve and expand the nation's infrastructure
Answer: C
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A profit-maximizing firm always
A. sells its output at P = MR. B. produces at the output at which MR = 0. C. hires labor until the MRP of labor = 0. D. produces every unit of output for which MR > MC.
After the Civil War, per capita income in the South was relatively low compared with other regions of the United States. Which of the following statements best describes how long it took the South to (almost but not quite. catch up with the rest of the country)
a. About one year. b. About five to ten years. c. About twenty five years. d. Several generations.
How can an economy's consumption expenditures be larger than its national income?
Suppose the Euros per U.S. dollar exchange rate is 2 . The aggregate price level in France is 100, and the aggregate price level in the United States is 125 . The real exchange rate between the two countries is _____
a. 2.5 b. 2 c. 1.6 d. 2.4