Refer to Table 2-9. What is Japan's opportunity cost of producing one wristwatch?

The major categories of federal government spending are

a. health care, national defense, Social Security, and other income transfers. b. law enforcement, environmental protection, and national defense. c. public education, garbage collection, and public parks. d. health care, public education, and highways.

In 1975, Congress passed a tax rebate to spur consumer spending. Consumers

A. spent the entire amount of the tax savings, boosting the economy, as planned. B. did not spend any of the amount of the tax savings. C. saved a substantial share of the tax savings and spent the rest. D. saved a small portion of the tax savings, and spent the rest.