The federal grant program for POTW construction
a. displaced the Clean Water State Revolving Fund (CWSRF) Program
b. assured that the larger proportion of spending on POTW construction was at the local level
c. lowered the federal cost share in 1985 to reduce inherent inefficiencies
d. encouraged cost-effective decision making at the municipal level
c. lowered the federal cost share in 1985 to reduce inherent inefficiencies
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The problems of inflation and unemployment are
A. only relevant to European economies. B. not relevant to the U.S. economy. C. major topics of microeconomics. D. major topics of macroeconomics.
Hot dogs and hot dog buns are complementary goods. The cross price elasticity between hot dogs and hot dog buns: a. is positive
b. is equal to zero. c. is negative. d. could be any of the above.
Between 1986 and 2010, the top marginal personal income tax rate was 40 percent or less compared to 70 percent or more prior to 1981 . Compared to the earlier time period, in recent years the share of personal income taxes paid by high income taxpayers
a. has been lower. b. has been virtually unchanged. c. has been higher. d. increased in the late 1980s, but has been falling ever since.
Suppose good X has a negative income elasticity of demand. This implies that good X is
a. a normal good. b. a necessity. c. an inferior good. d. a luxury.