The expenditures of government-owned corporations with budgets separate from the government's budget are called _____
a. on-budget expenditures
b. off-budget expenditures
c. quasi-budget expenditures
d. private expenditures
b
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Which of the following is true?
a. Automated production processes are generally adopted regardless of whether they reduce costs. b. Automated production processes eliminate jobs and, thereby, endanger our future living standards. c. Cost-reducing automated production techniques will expand output directly and/or release scarce resources for the expansion of output in other areas. d. Use of the most advanced technology will always minimize the cost of a productive activity.
The table gives data for a private closed economy. If gross investment is $12 billion, the equilibrium level of GDP will be
A. $380. B. $370. C. $360. D. $350.
Recently, salmonella outbreaks occurred due to the contamination of the processing of peanuts. Given this information, it is likely that:
A) The price of peanut products would rise and the quantity of peanut products produced would fall. B) The price of peanut products would rise and the quantity of peanut products produced would rise. C) The price of peanut products would fall and the quantity of peanut products produced would fall. D) The price of peanut products would fall and the quantity of peanut products produced would rise.
A monopolistically competitive market can also be:
A. an oligopoly. B. a monopoly. C. perfectly competitive market. D. All of the above.