Federal government purchases as a percentage of GDP
A) have risen since the early 1950s.
B) have fallen since the early 1950s.
C) have remained roughly the same since the early 1950s.
D) rose from the early 1950s until the mid 1980s, and then fell.
Answer: B
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A) a lower price. B) a lower average cost. C) a horizontal demand function. D) a lower rate of output.
A U.S. citizen's income from investment in foreign countries is _____ in the U.S. current account
a. recorded as a deficit b. recorded as a surplus c. recorded as a debit d. recorded as a credit e. not recorded
Prices in an oligopoly industry tend to be higher than in a competitive industry
Indicate whether the statement is true or false
A negative externality is the same thing as an external cost
Indicate whether the statement is true or false