During the 1980s and 1990s, the fastest growing federal expenditures was the ____________________.
What will be an ideal response?
Interest on national debt
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If the natural rate of unemployment in a country is 6% and the unemployment rate in the country is 8%, the cyclical unemployment in the country must be:
A) 8%. B) 6%. C) 14%. D) 2%.
Assuming price elasticity of demand is reported as an absolute value, a price elasticity of demand of 1.2 indicates an:
A. inelastic demand, meaning the percentage change in quantity demanded will be less than the percentage change in price. B. elastic demand, meaning the percentage change in quantity demanded will be less than the percentage change in price. C. inelastic demand, meaning the percentage change in quantity demanded will be greater than the percentage change in price. D. elastic demand, meaning the percentage change in quantity demanded will be greater than the percentage change in price.
Use the following general linear demand relation:Qd = 100 - 5P + 0.004M - 5PRwhere P is the price of good X, M is income, and PR is the price of a related good, R. If M = $50,000 and PR= $10 and the supply function is Qs = 150 + 5P, market price and output are, respectively,
A. P = $10 and Q = 200. B. P = $12 and Q = 150. C. P = $15 and Q = 175. D. P = $12 and Q = 200. E. P = $15 and Q = 225.
What is common property? What does common property have to do with externalities?
What will be an ideal response?