Which of the following is an example of "pork barrel spending"?
A) Funds spent by the federal government in repairing national highways
B) Funds spent by the Fed to bail out large financial institutions during recessions
C) Government funds spent by a senator for building fountains in his home state
D) Funds spent by the government in providing unemployment insurance
C
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In a competitive market, if buyers did not know all the prices charged by the many firms,
A) all firms still face horizontal demand curves. B) firms sell a differentiated product. C) demand curves can be downward sloping for some or all firms. D) the number of firms will most likely decrease.
Hold Jared's preferences for pizza and Pepsi constant. Suppose Jared's income, as well as the prices of pizza and Pepsi, double. As a result,
a. both Jared's indifference curves and his budget constraint change. b. Jared's indifference curves change, but his budget constraint does not change. c. Jared's budget constraint changes, but his indifference curves do not change. d. neither Jared's indifference curves nor his budget constraint change.