Which of the following categories accounts for about one-third of the total spending of state and local governments?
a. Community development
b. Health and sanitization
c. Education
d. Transportation
c
You might also like to view...
If the marginal propensity to consume is 0.5, the income tax rate is 10%, and income rises by $20,000 . by how much will consumption spending increase?
a. $15,000 b. $10,000 c. $5,000 d. $9,000 e. $1,000
Each bank decides what its legal reserve requirement will be
Indicate whether the statement is true or false
For a large group of individuals, the proportion of people who will have accidents is
A. extremely unstable. B. extremely predictable. C. always constant. D. extremely unpredictable.
Suppose a liquidity trap situation exists. Which of the following is most likely to occur if taxes are cut?
A) no change in output and no change in the interest rate B) an increase in output and an increase in the interest rate C) an increase in output and little change in the interest rate D) an increase in output and a reduction in the interest rate E) none of the above