What percentage of the U.S. adult population has a college or post-college education (as of 2012)?
A. 8 percent.
B. 31 percent.
C. 41 percent.
D. 88 percent.
B. 31 percent.
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In-kind transfer payments are _____
a. efficient b. popular with recipients c. paternalistic d. a and b
Nominal gross domestic product (GDP) is a better measure of growth in production than real GDP
a. True b. False Indicate whether the statement is true or false
The term "fiscal federalism" refers to
a. deficit financing of government programs. b. the power of Congress to tax and to determine how tax revenues are spent. c. transferring money between levels of government (for example, from a state government to a local government). d. the system under which governments ask citizens to vote on major revenue-raising measures (for example, on issues of municipal bonds).
A firm produces its product using both capital and labor. When it does not change its capital usage, but doubles its labor input, its output increases by less than 50 percent. Which of the following is the most likely explanation of this finding?
A. the principle of opportunity cost B. the principle of diminishing returns C. the marginal principle D. the spillover principle