A public expenditure that has to be approved each year is called:
A. discretionary spending.
B. nondiscretionary spending.
C. entitlement spending.
D. earmarked spending.
A. discretionary spending.
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As output increases, total fixed cost
a. increases. b. remains constant. c. rises and then falls. d. falls and then rises.
Refer to the graph shown. If this graph represents a competitive market, the equilibrium price and quantity will be:
A. $13.50 and 325, respectively. B. $10 and 500, respectively. C. $7 and 750, respectively. D. $7 and 325, respectively.
Why do barriers to entry create market power?
What will be an ideal response?
Which of the following represents the fertility of research?
A) the protection given to new products by the law B) how R&D spending translates into new ideas C) the extent to which firms benefit from the results of their own R&D spending D) the rate of technological progress E) both B and C