Why do/should we care that federal expenditures are becoming an increasingly larger portion of GDP?
What will be an ideal response?
We should care that federal expenditures are becoming an increasingly larger portion of GDP because of public sector crowding out.
Economics
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Refer to Figure 14.1. The substitution effect of the wage increase on the amount of hours of leisure is:
A) L1 to L0 B) L1 to L2. C) L0 to L2. D) L0 to L1. E) none of the above
Economics
If more people enter medical school, we can expect:
a. the demand for doctors to increase. b. the supply of doctors to increase. c. the demand for doctors to decrease. d. the supply of doctors to decrease. e. no effect on the supply or demand of doctors?just a movement along the curves.
Economics