Which of the following did not occur during the period 1960–95?
(a) The problem of inflation
(b) The growth of federal budget and trade deficits
(c) Rising unemployment rates
(d) All of the above occurred during this period.
(d)
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Classical theory advocates ________ policy and Keynesian theory advocates ________ policy
a. fixed wages; flexible wages b. nonintervention; intervention c. active; nonstabilization d. active; passive
Refer to the table and information below. What is the net benefit of project D?
Assume that a government is considering a new social program and may choose to include in this program any number of four progressively larger projects. The marginal cost and the marginal benefits of each of the four projects are given in the table.
A. $1 billion
B. $3 billion
C. $4 billion
D. $20 billion