What two parts of the government determine the federal budget?
A) the Congress and the President
B) the Congress and the Federal Reserve
C) the Federal Reserve and the FOMC
D) the U.S. Treasury and the Federal Reserve
E) the President and the Federal Reserve
A
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Assume that a very unusual production process involves increasing marginal productivity that appears to have no end. What would the total productivity function look like? Comment on the likelihood of such a function in the real world
What will be an ideal response?
Admission to Disney World is an example of a private good from which nonpaying individuals can be excluded
a. True b. False Indicate whether the statement is true or false
Since it is costly for stockholders to monitor corporate managers, managers may be able to achieve personal perks and pursue other policies that conflict with profit maximization. This is an example of
a. an external benefit. b. economies of scale. c. the principal-agent problem. d. sunk costs.
What happened to government expenditures during World War II?
a. They increased. b. They decreased. c. They were suspended. d. They were capped.