The biggest category of state and local expenditures are:
a. education.
b. defense.
c. transfer payments.
d. none of the above.
Answer: a. education.
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A decrease in the price of crude oil would most likely ________.
A. increase aggregate demand in the U.S. B. decrease aggregate demand in the U.S. C. decrease aggregate supply in the U.S. D. increase aggregate supply in the U.S.
"The Consumer Price Index increased by 4.2 percent in the first quarter of this year." What type of statement is this?
a. normative b. negative c. positive d. subjective e. biased
Which of the following does not hinder economic development?
a. lack of education b. poor agricultural productivity c. low investment in human capital d. lack of technology e. good nutrition
Copyrights and patents are examples of barriers to entry that give firms monopoly pricing powers
a. True b. False Indicate whether the statement is true or false