One important category of state and local tax spending is ______.
a. Medicare
b. Social Security
c. police and fire protection
d. national defense
c. police and fire protection
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One reason economies always experience some unemployment is job search
a. True b. False Indicate whether the statement is true or false
Suppose that goods A and B are close substitutes. If the price of good A falls, then we would expect an:
A. Increase in the demand for A and an increase in the quantity of B demanded B. Increase in the demand for A and a decrease in the quantity of B demanded C. Increase in the quantity of A demanded and a decrease in the demand for B D. Increase in the demand for good A as well as for good B
Which of the following is NOT classified as an advanced economy?
A) Hong Kong B) South Korea C) Russia D) Australia E) the United Kingdom
Refer to Figure 11-10. Identify the minimum efficient scale of production
A) Qa B) Qb C) Qc D) Qd