Budgets should be organized along line item budgets rather than program budgets in order to facilitate an evaluation of the effectiveness of government spending on an issue
a. True b. False
b
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Which of the following is a property of a good economic question?
A) A good economic question should never incorporate elements from disciplines other than economics. B) A good economic question should always have a single solution. C) A good economic question can be answered. D) A good economic question always addresses topics that are important to the whole society and not to an individual economic agent.
The figure above shows the production possibilities frontiers for four nations that have identical production possibilities frontiers in the present. The one that will grow most rapidly in the future is most likely to be producing at point
A) A. B) B. C) C. D) D.
Using Figure 1.5 above, we know the production of 6 units of soda and 1 unit of pizza is 
A. possible, but only if all resources were fully employed. B. possible, but there would be unemployed resources. C. impossible because we have the resources but do not have the technology. D. impossible because we have the technology but do not have the resources.
Double counting can be avoided by using the value-added approach when calculating GDP.
Answer the following statement true (T) or false (F)