In 2015 Head Start's budget was approximately
A. $8.2 trillion.
B. $8.2 million.
C. $820 billion.
D. $8.2 billion.
Answer: D
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Suppose the following information describes the economy:Government purchases of goods and services1,000Household saving2,000Government transfers and interest payments500Tax collections1,500Business saving2,500Private saving equals ________; public saving equals ________; national saving equals ________.
A. 500; -1,500 B. 4,500; 0 C. 4,500; 1,000 D. 1,000; 1,000
How can a firm have a negative valued added, as supposedly some state-owned businesses did in the former Soviet Union? What has to be true for value added to be negative?
What will be an ideal response?
Income inequality is
A. Not an issue in the United States because of the progressive federal tax system. B. Often greatest in the poorest countries such as Namibia and Botswana. C. A global issue because the poorest tenth of the population gets 20-30 percent of total income. D. Not an issue for wealthy countries such as the United States and Germany.
Figure 3.3 illustrates the supply and demand for t-shirts. If the actual price of t-shirts is $15, we would expect that:
A. demand will decrease until quantity demanded equals quantity supplied. B. supply will increase until quantity demanded equals quantity supplied. C. price will decrease until quantity demanded equals quantity supplied. D. there will be no change in the price since the market is in equilibrium.