In 2011, approximately how much of federal government spending went to income security?
a. 10%
b. 25%
c. 33%
d. 50%
c
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As the number of available substitutes increases, the price elasticity of demand for a good:
A) initially increases then decreases. B) initially decreases then increases. C) decreases. D) increases.
Refer to Figure 4-1. If the market price is $2.50, what is the consumer surplus on the second ice cream cone?
A) $0.50 B) $1.50 C) $3.00 D) $10.50
A bond is
A) a debt instrument, that is, the issuer has taken out a loan. B) an equity instrument, that is, the buyer has purchased ownership in the issuer's firm. C) the same thing as a stock. D) a short-term loan from the government.
If interest rates rise and all else is equal, the price of a stock will
A. fall. B. remain unchanged. C. adjust to reflect a higher ratio of price to (current) earnings. D. rise.