Who sets the rules for entitlements when spending is authorized under this category?
A. the President
B. the agency involved
C. the Congress when it appropriates the spending
D. each individual state
Answer: C
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Stockholders of a corporation can be regarded as entrepreneurs because they
a. are ultimately the ones who hire or fire managers b. take the risks associated with corporate enterprise c. are compensated for the opportunity costs they incur when they invest their capital in the corporation d. are involved in the major management operations of the corporation e. invest their time and effort in managing the corporation
A marginal change usually is a
a. change that involves little, if anything, that is important. b. large, significant adjustment. c. change for the worse, and so it is usually a short-term change. d. small, incremental adjustment.
Which of the following will occur as a result of a tax increase?
A) private saving increases B) investment increases C) the trade balance improves D) the trade balance worsens E) the budget deficit increases
In a market where firms are able to reduce their private costs by shifting costs onto others, which of the following will not happen? a. Inefficiencies will occur
b. Negative externalities will be observed. c. The market prices of products produced by firms will be too low relative to the social optimum. d. Output of the good being produced will be too low.