Figure 6-1
illustrates the four possibilities of the distribution of costs and benefits among voters for a government project. For which type would the government most likely undertake many projects that would be considered inefficient or counterproductive (in other words, do too many of them relative to economic efficiency)?
a.
type A
b.
type B
c.
type C
d.
type D
b
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Monetary aggregates are
A) measures of the money supply reported by the Federal Reserve. B) measures of the wealth of individuals. C) never redefined since "money" never changes. D) reported by the Treasury Department annually.
Exports from and imports to the U.S. were important to growth in the U.S. between 1790 and 1860 because
(a) exports to other countries expanded the market base for U.S. manufacturing goods. (b) they supported the U.S. economy during a time in which it used more agricultural goods and crude materials than it produced. (c) they helped the U.S. and its trading partners gain wealth through international trade of those goods and services in which each produced at a comparative advantage. (d) they contributed to all of the above.