Expenditures on human resources comprise about ¬¬¬¬_____ of federal expenditures
a. half
b. one-third
c. one-fourth
d. two-thirds
d
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A general policy of imposing trade restrictions is called
a. protectionism b. import substitution c. quantitative restrictions d. effective protection e. all of the above
If many more home sellers and builders have become more eager to sell their homes, we would expect to see:
a. an increase in equilibrium price and an increase in equilibrium quantity of homes sold. b. an increase in equilibrium price and a decrease in equilibrium quantity of homes sold. c. a decrease in equilibrium price and an increase in equilibrium quantity of homes sold. d. a decrease in equilibrium price and a decrease in equilibrium quantity of homes sold.
In 2009, the U.S. had a budget deficit of approximately
a. $161 billion. b. $459 billion. c. $800 billion. d. $1.4 trillion.
If monopolistically competitive firms have some control over their prices, why don’t they set price above average total cost so they will realize an economic profit in the long run?
What will be an ideal response?