The main source of government funding is
A. transfer payments.
B. borrowing.
C. taxes.
D. interest earned from holding bonds.
Answer: C
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All of the following describe trends in the labor markets of the industrialized world EXCEPT:
A. growing wage inequality. B. substantial growth in real wages over the twentieth centaury C. low rates of unemployment in Western Europe. D. a slowdown in real wage growth since the 1970s.
An implication of the long-run aggregate supply curve is that continuous increases in the money supply will result in continuous
A) increases in price level. B) increases in output and price level. C) decreases in output and price level. D) decreases in output.
According to the U.S. Treasury
A) creditors do not have to accept cash in payment of debts. B) firms do not have to accept cash as payment for goods and services. C) the government will not accept cash in payment of taxes. D) U.S. dollars must be accepted as payment for any good or service sold in the United States.
If the economy is simultaneously in long-run and short-run equilibrium, which of the following is true?
a. Aggregate quantity supplied is greater than potential output. b. Aggregate quantity demanded is less than potential output. c. Aggregate quantity demanded is equal to potential output. d. The aggregate demand curve is horizontal at the potential output level.