During fiscal year 2012, the most recent mentioned in the text, the federal government spent approximately

The costs of changing price tags and price listing are known as

a) inflation-induced tax distortions. b) relative-price variability costs. c) shoeleather costs. d) menu costs.

Which of the following refers to a natural monopoly?

a. A monopoly resulting from government control b. A monopoly resulting from economies of scale c. A monopoly resulting from output leadership d. A monopoly resulting from a large advertising budget e. A monopoly resulting from trade restrictions