Which of the following categories accounted for the third largest percentage of total federal government expenditures?
a. Education and health.
b. National defense.
c. Income security.
d. Interest on the national debt.
a
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Which of the following statements is FALSE?
A) Both monetary and interest rate targets cannot be pursued simultaneously. B) A reduction in the required reserve ratio increases the money supply and pushes down the equilibrium interest rate. C) An open market sale decreases the money supply and pushes up the equilibrium interest rate. D) An open market purchase reduces the money supply and pushes down the equilibrium interest rate.
Economic efficiency requires that a natural monopoly's price be set corresponding to the quantity where marginal revenue equals marginal cost
Indicate whether the statement is true or false
The fact that Alice spends no money on travel:
A) implies that she does not derive any satisfaction from travel. B) implies that she is at a corner solution. C) implies that her MRS does not equal the price ratio. D) any of the above are possible.
If ‘C' denotes consumption expenditure, ‘I' denotes investment expenditure, ‘G' denotes government expenditure and ‘X' denotes net exports, then C + I + G + X equals:
a. net national product. b. disposable personal income. c. net exports. d. personal income. e. gross domestic product.