When compared with other governments around the world, government spending in the United States as a percentage of GDP_____. a. is generally lower than similar countries b. is generally higher than similar countries c. is about average relative to similar countries d. is impossible to compute because of differences between countries ANSWER a
Which of the following is ¬¬not true? a. In the 1950s, federal defense expenditures were larger than federal human resource expenditures. b. In 1995, federal defense expenditures were less than five percent of GDP. c. Federal expenditures on defense exceeded federal human resource expenditures until 1989. d. Federal defense expenditures have been declining continuously since […]
An understanding of the principles of public sector economics can help us create _____. a. innovative public policies b. a more effective government c. a protective government that better shields its citizens from risk d. new spending programs ANSWER b
To understand the public sector, we must understand not only how government allocates resources, but also the importance role that _____ play in the policy-making process. a. corporations b. families c. politics d. individuals ANSWER c
The government’s economic programs and policies in the United States _____. a. are determined mostly by professional economists b. are largely determined by looking at what other countries are doing c. are a product of a democratic political system d. are largely determined by corporations ANSWER c
In 2002, the United States contained around _____ governmental units at all levels. a. ninety thousand b. twelve thousand c. fifty d. five hundred and thirty-five ANSWER a
The demand function for tickets to Ireland is expressed as Qd = 1600 – 0.005P + 2 PEngland + 3rain + 2Y, where P is the price for tickets to Ireland, PEngland is the price of tickets to England, rain is the inches of rain Ireland receives annually, and Y is annual household income. Assuming […]
Total government revenues in the United States are about _____ percent of GDP. a. 25 b. 17 c. 45 d. 30 ANSWER d
