Which is true of total federal spending relative to GDP?
a. It is the most commonly used measure of the size of government.
b. There really is no upper limit to the ratio of total government spending to GDP.
c. It has steadily increased over the last 50 years.
d. All of the above are correct.
e. Only a and c are correct.
d. All of the above are correct.
You might also like to view...
If your demand for gasoline is inelastic, when the price of gasoline falls, which of the following occurs?
A) Your demand curve for gasoline will shift leftward. B) Your demand curve for gasoline will shift rightward. C) Your total expenditure on gasoline will increase. D) Your total expenditure on gasoline will decrease.
Three firms agree to operate as a monopoly and charge the monopoly price of $40 for their product and (jointly) produce the monopoly quantity of 25,000 units. If the competitive price for the product is $10, under the Clayton Act these three firms face treble damages of ________.
A) $3,000,000 B) $750,000 C) $2,250,000 D) $1,000,00
The optimal bidding strategy for an oral auction is
a. To shade your bid below your true value and drop out well before it is reached b. To shade your bid below your true value and drop out just when the shaded amount is reached c. To drop out when the bidding exceeds your true value d. To size up your competition to determine how much to shade your bid
Consider Mandy's decision to go to college. If she goes to college, she will spend $20,000 on tuition, $10,000 on room and board, and $2,000 on books. If she does not go to college, she will earn $18,000 working in a store and spend $8,000 on room and board. Mandy's cost of going to college is
a. $32,000. b. $42,000. c. $50,000. d. $58,000.