The No Child Left Behind Act of 2001 was a federal mandate which is estimated to cost the states and local governments in excess of _________ a year.
What will be an ideal response?
$35 billion
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In a world of scarcity, there has to be some way to ration the available resources. According to economists, the most efficient use of available resources occurs when rationing occurs via
A) queuing. B) lotteries. C) political power. D) the price system.
If expected inflation is constant and the nominal interest rate increased 3 percentage points, the real interest rate would
a. increase 3 percentage points. b. increase, but by less than 3 percentage points. c. decrease, but by less than 3 percentage points. d. decrease by 3 percentage points.
If a government sells debt to help meet its expenditures, then the government has a
a. budget surplus. Other things the same, the surplus rises if government expenditures rise. b. budget surplus. Other things the same, the surplus rises if government expenditures fall. c. budget deficit. Other things the same, the deficit rises if government expenditures rise. d. budget deficit. Other things the same the deficit rises if government expenditures fall
Refer to the above graph, which shows the market for beef where demand shifted from D 1 and D 2. The change in equilibrium from E1 to E 2 is most likely to result from:
a. A decrease in consumer incomes b. An increase in the price of pork c. A decrease in the tax on beef products d. An increase in the cost of cattle feed