What are the two largest categories in state government spending?
A. public welfare and highways
B. education and highways
C. education and public welfare
D. public welfare and health & hospitals
Answer: C
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Whether or not people have identical tastes, the net value that the marginal user receives from a common property is
a. positive. b. zero. c. negative. d. uncertain.
If the desired reserve ratio rises, the money multiplier
A) decreases. B) increases. C) stays the same. D) probably changes but more information is needed to determine if it increases or decreases.
A "liberal" would most likely argue in favor of
a. tax increases when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary. b. tax cuts when fiscal restraint is necessary, and spending cuts when fiscal stimulus is necessary. c. tax cuts when fiscal stimulus is necessary, and spending cuts when fiscal restraint is necessary. d. spending increases when fiscal expansion is necessary, and tax increases when fiscal restraint is necessary.
Use the following diagram to answer the next question.
In the diagram, solid arrows reflect real flows and broken arrows are monetary flows. Flow (5) might represent
A. the purchase of laptop computers by the state of Iowa. B. transfer payments to unemployed workers. C. personal income tax revenues. D. the provision of public schools by local governments.