How much of the U.S. federal budget is spent on foreign aid?
A. about 1 percent
B. about 5 percent
C. about 25 percent
D. about 50 percent
Answer: A
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Which statement is true?
A. There was a great deal of stagflation in the 1960s. B. We had full employment for most of the 1980s. C. We have had twelve recessions since the beginning of 1945. D. None of the choices are true.
The "information barrier" that is the root cause of business cycles in the Lucas model is that
A) workers observe the prices of what they personally buy, but cannot observe the general price level. B) workers do not know when changes in the price level mean changes in the prices of the goods they buy. C) firms do not know when changes in the price of the good they sell matches changes in the price level and thus their marginal cost. D) firms do not know if a change in the price level will have any effect on their marginal cost and thus their willingness to supply.
The most costly expansion of Medicaid since its inception is referred to as:
a. the 2014 Medicaid expansion. b. SHIP. c. AFDC. d. SCHIP. e. TANF.
If an individual perfectly competitive firm charges a price below the industry equilibrium price, it will
A) not sell anything. B) sell part of what it produces. C) sell all that it produces and gain more revenue than competing firms will. D) sell all that it produces but gain less revenue than competing firms will.