When compared to national defense expenditures, human resources expenditures _____
a. declined substantially during the 1980s
b. have remain stable since the 1950s
c. are a smaller percentage of GDP
d. have increased substantially since the mid 1960s
d
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An economy recovering from a recession
A) moves up from its trough to a period of expansion. B) moves up from its peak to a period of expansion. C) moves down from its trough to a period of depression. D) moves down from its peak to a period of expansion.
The deadweight loss from a tax of $x per unit will be smallest in a market
a. in which demand is elastic and supply is inelastic. b. in which demand is inelastic and supply is elastic. c. in which demand is inelastic and supply is inelastic. d. None of the above are correct; we need to know the value of x in order to determine the answer.