In 1960, spending on income transfers and health care accounted for 21.5 percent of the federal budget. In 2012, these two items accounted for
a. less than 15 percent of the federal budget.
b. approximately 25 percent of the federal budget.
c. approximately 37 percent of the federal budget.
d. approximately 57 percent of the federal budget.
D
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A movement along the demand curve might be caused by a change in a. income
b. the prices of substitutes or complements. c. expectations about future prices. d. the price of the good or service that is being demanded.
The historical record indicates that foreign aid has
a. played a major role in helping formerly poor countries grow rapidly and achieve high income levels. b. re-enforced corrupt governments and policies that stifle productive activities. c. helped poor countries escape counterproductive policies imposed by authoritarian political leaders. d. promoted economic growth, but slowed the movement toward political democracy.