In most developed economies, public spending on national defense
a) is the largest component of the government’s budget
b) accounts for about 1/3 of GDP
c) is less than spending on transfer payments
d) cannot be distinguished from infrastructure expenditures in the national accounts
e) is financed by a national system of subscriptions
c) is less than spending on transfer payments
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What are "cash-out refinancings"?
What will be an ideal response?
The natural unemployment rate and the expected inflation rate are constant when moving along the ________, which shows a tradeoff between ________ and ________
A) short-run Phillips curve; inflation; employment B) long-run Phillips curve; inflation; unemployment C) aggregate demand curve; inflation; employment D) aggregate supply curve; inflation; unemployment E) short-run Phillips curve; inflation; unemployment
Before its IPO, Facebook was an example of a private firm. As a private firm, Facebook was
A) not subject to government regulations and taxation. B) not legally allowed to raise funds through venture capital firms. C) run by stockholders and a board of directors. D) run by its founder, Mark Zuckerberg.
Refer to Scenario 19.4 below to answer the question(s) that follow. SCENARIO 19.4: Suppose demand for widgets is given by the equation P = 10 - 0.25Q. Originally, the price of the good is $5 per unit. When a tax of $1 per unit is imposed, the price of the good rises to $6 per unit.Refer to Scenario 19.4. Prior to the imposition of the tax consumer surplus was ________ and after the tax was imposed consumer surplus was ________.
A. $50; $32 B. $32; $50 C. $100; $65 D. $25; $16