The federal budget process begins when federal agencies submit their budget requests to the:
A. Treasury Department.
B. Council of Economic Advisors (CEA).
C. Office of Management and Budget (OMB).
D. Congressional Budget Office (CBO).
Answer: C
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Which of the following would be most able to act like a monopsonist?
A) a hospital in a small isolated town B) a hospital in a very big city C) a law firm in Washington, D.C. D) a computer software firm in Silicon Valley
Crowding out suggests that debt promotes overconsumption
Indicate whether the statement is true or false
Use the figure below, which shows a linear demand curve and the associated total revenue curve, to answer the question.
The price for which 100 units can be sold is $________.
A. 15 B. 25 C. 45 D. 10 E. 50
The scientific method, on which economics rely, consists of several elements, including: (check all that apply)
a. observing real-world behavior and outcomes and formulating a law based on said observations b. continuing to test the hypothesis against facts. c. observing real-world behavior and outcomes and formulating a hypothesis based on said observations d. accepting, rejecting, and adjusting a hypothesis.