When the federal government gives a grant to a state or local government without restrictions on use, this is known as
A. revenue sharing.
B. block grants.
C. endowments.
D. tax shelter.
A. revenue sharing.
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In an open economy, aggregate supply consists of domestic production
A. plus imports. B. plus exports. C. minus imports. D. minus exports.
Refer to Table 2-10. What is Fred's opportunity cost of making a pogo stick?
A) 6/7 of a pogo stick B) 1/2 of a unicycle C) 1/3 of a unicycle D) 3 unicycles
The level toward which the economy is moving and where it will stay unless spending patterns of the economy will change is called the equilibrium level of output and income
Indicate whether the statement is true or false
The postwar years:
a. ushered in what has been described as an unthinking materialist culture. b. ushered in what has been described as a consumer-oriented society that represented the fulfillment of the American dream. c. featured an unusual deviation from the long-term trend toward smaller families. d. All of the above are correct. e. Only a and b are correct.