Which statement is true?
A. State and local governments are expected to provide more and more services while their tax bases are limited.
B. State and local governments are expected to provide less and less services while their tax bases are relatively unlimited.
C. Public education has traditionally been the role of the federal government.
D. None of these statements are true.
A. State and local governments are expected to provide more and more services while their tax bases are limited.
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The graph illustrates the supply of soda. If the price of soda rises from $0.50 a can to $1.50 a can, the quantity of soda supplied
A) increases from 0 cans to 4,000 cans a day. B) decreases from 4,000 cans to 0 cans a day. C) remains unchanged because the supply increases not the quantity supplied. D) increases from 0 to 6,000 cans a day. E) remains unchanged because the supply decreases not the quantity supplied.
On the modern Phillips curve, the beginning of a recession is shown by ________
A) an upward movement along the Phillips curve to a higher inflation rate B) an upward shift of the Phillips curve leading to higher inflation rates for any unemployment rate C) a downward shift of the Phillips curve leading to lower inflation rates for any unemployment rate D) a downward movement along the Phillips curve to higher unemployment rates E) none of the above