Compared with other countries in the OECD, U.S. government spending relative to GDP is
A) among the highest.
B) about average.
C) slightly below average.
D) among the lowest.
D
You might also like to view...
A major computer software company maintains a technical support center in a rural area and is the only employer in this region
Suppose the firm develops a new software system for managing technical support calls, and the marginal product of labor increases. What happens to the equilibrium outcome in this labor market? A) Labor demand shifts rightward, equilibrium wage and employment levels decline B) Labor demand shifts rightward, equilibrium wage and employment levels increase C) Labor demand curve remains the same, equilibrium wage and employment levels increase D) Labor demand curve remains the same, equilibrium wage and employment do not change E) none of the above
If the market price falls below a firm's minimum average total cost, the firm should:
A. consider how to minimize its losses. B. definitely stop production. C. pay only fixed costs. D. definitely continue to operate at a loss.
Suppose that when a perfectly competitive firm produces 500 units of output a day, it earns an economic loss. If the price of each unit of output is $1.50, then, in the short run, it's clear that this firm:
A. should shut down. B. is not maximizing its profit. C. should produce more than 500 units a day. D. should not shut down if its total variable cost is less than $750.
Refer to the information provided in Figure 32.3 below to answer the question(s) that follow.
Figure 32.3Refer to Figure 32.3. Suppose the economy is at Point A. According to the new classical theory, an anticipated increase in aggregate demand
A. leaves the economy at Point A. B. moves the economy to Point B. C. moves the economy to Point C. D. moves the economy to Point D.