The public sector of the U.S. economy includes:
a. the federal, state, and local government.
b. multinational corporations and the federal government.
c. the Federal Reserve bank of the U.S.
d. the judiciary and the federal government.
e. households.
a
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Which of the following statements best summarizes the law of diminishing marginal returns?
A) In the short run, as more labor is hired, output diminishes. B) In the short run, as more labor is hired, output increases at a diminishing rate. C) In the short run, the amount of labor a firm will hire diminishes as output increases. D) As more labor is hired, the length of time that defines the short run diminishes.
The largest overall recipients of remittances are:
A. China and India, which each get more than $5 billion per year. B. China and India, which each get more than $50 billion per year. C. Chile and Mexico, which each get more than $50 billion per year. D. Chile and Mexico, which each get more than $5 billion per year.