Measured as a share of the economy, government expenditures on ____ have declined during the last four decades
a. health care
b. national defense
c. transfer payments
d. Social Security benefits
B
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Public choice theory assumes that voters, politicians, and other political participants are largely motivated by: a. personal self-interest
b. altruism. c. a desire to promote the general welfare. d. a desire to promote allocative economic efficiency.
The federal funds rate is
a. the minimum rate associated with the amount of reserves the Fed requires a bank to hold b. the interest rate that the Fed charges banks who borrow from it c. the interest rate charged by banks that lend reserves to other banks for short periods of time d. the maximum rate of the price of a stock that can be borrowed from a bank, with the stock offered as collateral e. an appeal by the Fed to banks, asking for voluntary compliance with the Fed's policies concerning interest rates
The Latin phrase ceteris paribus means
A. The production possibilities curve never shifts. B. Other things remain equal. C. The invisible hand. D. Laissez faire.
Suppose you borrow $50,000 from your bank to purchase a Tesla vehicle. This is an example of
A. indirect financing. B. direct financing. C. transaction costs. D. moral hazard.