During most of the period since 1962, federal government spending as a percentage of GDP has hovered around _____
a. 25–30%
b. 10–15%
c. 17–22%
d. 20–25%
c
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Supply-side economic policies seek to
A) raise interest rates through contractionary monetary policy. B) increase federal government expenditures. C) increase consumption expenditures by increasing taxes. D) increase saving and investment using tax incentives.
Will depletable resources such as oil, coal, and aluminum be exhausted if their prices are left to the market?
What will be an ideal response?
A commitment device is:
A. an arrangement entered into by an individual with the aim of helping fulfill a plan for future behavior that would otherwise be difficult. B. a way to deal with time inconsistency. C. something that helps people conquer their vices. D. All of these are true.
Which statement about the U.S. poverty line is true?
a. The poverty line is adjusted for the value of food aid. b. The poverty line is based on cash income. c. The poverty line varies from state to state. d. The poverty line fluctuates with Medicaid claims.