In theory, when a local government receives a grant to finance a certain type of expenditure, it should spend more if the grant _____
a. is a matching grant rather than a categorical grant
b. is a categorical grant rather than a matching grant
c. is a general grant rather than a matching grant
d. is a categorical grant rather than a matching grant
a
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The presence of information and transactions cost result in all of the following EXCEPT:
A) reduced efficiency of financial markets. B) higher returns for savers C) some funds not being lent at all D) borrowers need to pay more for funds
Backward induction involves:
A. a process of analyzing a problem in reverse. B. thinking forward and working backward. C. starting with the last choice and working backward to determine an optimal strategy. D. All of these statements are true.
The fact that the United States has grown _______ per year for the last hundred years is ______________.
A. 1 %; alarming and needs to be altered B. 2 %; alarming and needs to be altered C. 2 %; impressive and hopefully will continue D. 3 %; impressive and hopefully will continue
An example of an external debt is
a. French public debt held by Americans b. French investment in the United States financed by French debt c. French government debt held by French banks d. French public debt issued by French private companies e. U.S. government debt held by the Federal Reserve System