Purchasing a smart phone data plan, premium movie channels, and University of Alabama football season tickets results in you having to drop your health insurance plan. This can be described as:

A perfectly competitive firm in a constant-cost industry produces 1,000 units of a good at a total cost of $50,000. If the prevailing market price is $48, the number of firms and the industry's output will decrease in the long run

Indicate whether the statement is true or false

In 2012, direct government purchases equaled ________ percent of federal outlays

A) 42 B) 71 C) 26 D) 55