Total government spending in the U.S. economy was around _____ of the GDP in the financial year 2010
a. 5 percent
b. 36 percent
c. 25 percent
d. 44 percent
e. 16 percent
b
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Which of the following is concerned primarily with price discrimination?
a. The Sherman Antitrust Act. b. The Clayton Act. c. The Robinson-Patman Act. d. The Celler-Kefauver Act.
Which of the following is an example of a negative externality?
a. Picking up your trash b. Going to class sick c. Planting pretty flowers in your yard d. Getting vaccinated e. Going to class
The phases of the business cycle are prosperity, downturn, depression, and recession
Indicate whether the statement is true or false
If the objective of economic policy is to decrease the amount of pollution by an industry in the long run, the
a. most effective policy action would be a subsidy to firms for the reduction of emissions. b. most effective policy action would be a tax on polluting firms. c. appropriate course of action for government is to do nothing. d. appropriate course of action for government is to increase R&D outlays to develop technology to remove the emissions from the environment.