Government transfer payment as a percentage of GDP have been:
a. generally rising.
b. cyclical.
c. generally falling.
d. constant.
Answer: a. generally rising.
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An increase in the number of producers in an industry will: a. make the industry supply curve flatter
b. make the industry supply curve steeper. c. shift the industry supply curve to the right. d. shift the industry supply curve to the left.
Suppose a national government increased spending by $100 billion. The net effect on the banking system would be to:
a. Reduce bank reserves by $100 billion and reduce bank deposits by $100 billion. b. Increase bank reserves by $100 billion and increase bank deposits by $100 billion. c. Decrease government checking accounts in the banking system by $100 billion and increase the public's checking accounts there by $100 billion. d. Increase government checking accounts in the banking system by $100 billion and reduce the public's checking accounts there by $100 billion. e. Increase government checking accounts in the banking system by $100 billion and increase the public's checking accounts there by $100 billion.
___________ prices are set by large corporations for relatively long periods of time.
Fill in the blank(s) with the appropriate word(s).
Welfare programs are designed to address the:
A.) "HOW" question. B.) "FOR WHOM" question. C.) Issue of scarce resources. D.) "WHAT" question.