What programs will dramatically increase future deficits and debt if tax rates are not increased and spending in these programs is not reduced?
a. military and homeland security spending
b. welfare and food stamp spending
c. environmental restoration and transportation spending
d. Social Security and Medicare spending
d. Social Security and Medicare spending
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What are "cash-out refinancings"?
What will be an ideal response?
Consumers should purchase a good up to the point where MU = P.
Answer the following statement true (T) or false (F)
A supply curve slopes downward because of the law of supply
a. True b. False Indicate whether the statement is true or false
Public goods, as defined in economics, are a.. goods that are provided by the government b. overprovided because of their public nature c. provided efficiently in competitive markets but at too low a level d. subject to free-rider problems e. characterized by rivalry and nonexclusiveness