The appropriations process is
A. seldom smooth, especially when different parties control Congress and the White House.
B. characterized by brief and dignified budget debates.
C. always smooth, regardless of the political landscape.
D. always rough, especially when the same political party controls both Congress and the White House.
Answer: A
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Refer to Table 3-4. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. At a price of $10, the quantity demanded in the market would be
A) 2 lbs. B) 48 lbs. C) 50 lbs D) 52 lbs.
Why do governments prefer to avoid excessive current account surpluses? Or, why are growing domestic claims to foreign wealth ever a problem?
What will be an ideal response?
An In the News article, "Too Many Sellers: The Woes of T-Shirt Shops," states that if T-shirt shops are perfectly competitive firms, then each shop
A. Is a price taker. B. Confronts a downward-sloping demand curve for its own output. C. Is a price setter. D. Has market power.
At the equilibrium GDP for a private open economy:
A. net exports may be either positive or negative. B. imports will always exceed exports. C. exports will always exceed imports. D. exports and imports will be equal.