Roughly what fraction of total spending is consumption spending?

Transfer programs are so named because they transfer:

a. the burden of poverty alleviation from the church to the state. b. the poverty from the country side to the city. c. the responsibility for maintaining minimum standards of living from the federal government to state governments. d. income from the relatively high-income people to relatively low-income people. e. the incidence of poverty from predominantly ethnic groups to the majority white population.

Related to the Economics in Practice on page 198: If the long-run average cost curve in an industry has a long, flat section, which of the following must be true?

A. There would be no difference between the industry's short-run average cost curve and its long-run average cost curve. B. Existing firms have no incentive to expand. C. There is no single point on the curve that is the best. D. Small firms have higher average costs than large firms.