Which of the following is true of the U.S. government?
a. The government in the United States takes the form of a single-party state where opposition parties are not legally allowed to take power.
b. The size of the federal government in the U.S. has been declining since 1930.
c. Employment in the government sector currently exceeds employment in the manufacturing sector.
d. The U.S. federal government plays a much smaller role than state and local government due to states' rights.
e. The service sector of the U.S. economy employs more number of people than the U.S. government.
c
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If Dawson prefers pizza to hamburgers and hamburgers to hot dogs, then if preferences are transitive
A) she must prefer pizza to hot dogs. B) she could prefer hamburgers to pizza on some occasions but not hot dogs to pizza. C) she could prefer hot dogs to pizza on some occasions but not hamburgers to hot dogs. D) at times she could be indifferent among the three items.
Assume the required reserve ratio is 20 percent and the FOMC orders an open market purchase of $100 million in government securities from member banks. If the oversimplified money multiplier is assumed, then the money supply will
a. increase by $500 million. b. increase by $100 million. c. decrease by $100 million. d. decrease by $500 million.