Today, U.S. government spending on entitlements represents ________ of the total federal budget.
A. less than 5 percent
B. nearly 60 percent
C. nearly 100 percent
D. about 10 percent
Answer: B
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Which of the following shows the combination of two products that have the same utility or satisfaction?
A. Production possibility curve B. Insignificance curve C. Demand curve D. Indifference curve
What does a firm's LRAC curve show? How is it related to the firm's short-run ATC curves?
What will be an ideal response?
If a forecast is made using all available information, then economists say that the expectation formation is
A) rational. B) irrational. C) adaptive. D) reasonable.
An increase in taxes (when Ricardian equivalence doesn't hold) causes the real interest rate to ________ and the price level to ________ in general equilibrium
A) rise; rise B) rise; fall C) fall; rise D) fall; fall