Which of the following is an authoritative allocation of resources?
a. A change in the tax code to provide deductions for interest paid on a home mortgage
b. A reduction in the wholesale price of cigarettes
c. A decision by General Motors to close a factory in Michigan and open one in Texas
d. An increase in the price of compact discs
Answer: a
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The Chicago Council on Foreign Relations studied decades' worth of surveys of public and elite opinion on foreign policy issues. Which of the following statements is an accurate reflection of the researchers' conclusions?
a. The public is less supportive of international cooperation than are the elites. b. The public is less supportive of the United Nations than are the elites. c. The public is much more eager than the elites to use force in foreign affairs. d. The public is much less eager than the elites to use force in foreign affairs.
Under Keynesian economics, in periods of economic contraction, the government should ______.
a. inject more money into the economy b. withdraw investments from banks and businesses c. pay off debts to avoid a budgetary deficit d. make direct loans and grants to citizens