The budget of an unconstrained government is similar to a common pool resource, and this will lead to
What will be an ideal response?
excessive spending and budget deficits.
You might also like to view...
External costs are
a. negative externalities and are subtracted from marginal private costs to find marginal social costs. b. negative externalities and are added to marginal private costs to find marginal social costs. c. positive externalities and are added to marginal private costs to find marginal social costs. d. positive externalities and are subtracted from marginal private costs to find marginal social costs.
Deposits in savings accounts are included in
A) M1. B) M2. C) both M1 and M2. D) neither M1 nor M2.
With a negative income tax providing a minimum of $20,000 and a tax rate of 25 percent, what amount of supplement would the government pay to a household earning $10,000?
a. $5,000 b. $10,000 c. $17,500 d. $20,000
During 1959 through 2010, the percent of poor families headed by an elderly person
a. rose. b. steadily declined. c. remained virtually unchanged. d. steadily increased until 1980 when it began to decline.