For the U.S. federal government, mandatory spending refers to
A) spending that is not subject to Congress's annual appropriations process.
B) spending that never changes in amount from year to year.
C) spending on federal employee salaries.
D) spending that must be authorized by Congress each year.
A
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Which of the following statements is true?
A) Although consumers reap some consumer surplus under a single-price monopoly, society is better off with optimal two-part tariff pricing. B) Of the three pricing schedules, single-price monopoly, an optimal two-part tariff, and perfect price discrimination, profit is highest under single-price monopoly pricing. C) Consumer surplus under perfect price discrimination is greater than under single-price monopoly pricing. D) Consumer surplus under an optimal two-part tariff is greater than that under single-price monopoly pricing.
An increase in the expected inflation rate will ________ the ________ for gold, ________ its price, everything else held constant
A) increase; demand; increasing B) decrease; demand; decreasing C) increase; supply; increasing D) decrease; supply; increasing