Which of the following could be called an unfunded mandate imposed by the federal government to be carried out by state and local governments, without enough funds to cover the cost of the program?
A. the No Child Left Behind Act of 2001.
B. the requirement that states and localities hire new police officers by the Department of Homeland Security.
C. the requirement that states carry out election reform, as a result of voting irregularities in the 2000 election.
D. all the choices.
D. all the choices.
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The average total cost curve eventually slopes upwards because of the
A) law of diminishing returns. B) reductions in average fixed costs. C) increase in capital costs. D) decrease in labor costs.
When a business is considered by law to be a legal entity, it is known as a
A) partnership. B) conglomerate. C) corporation. D) proprietorship.
Suppose government purchases increase by $100 million in an economy, which leads to total output increasing by $500 million. The size of the multiplier is _____
Fill in the blank(s) with the appropriate word(s).
In Figure 20.2, the increase in Real GDP might reflect 
A. increased consumer confidence. B. lower marginal tax rates on capital income. C. increased standards of environmental protection. D. increased current government spending.