State and local government spending as a share of GDP has:
a. decreased from 12% in 1960 to about 8% in 2014
b. increased from 12% in 1960 to about 20% in 2014.
c. remained more or less stable at 12% between 1960 and 2014.
d. increased from 20% in 1960 to about 30% in 2014.
b
You might also like to view...
According to this Application, the Fed injected large amounts of reserves into banks during the 2008 financial crisis. The Fed needs to make sure that, in the long run, banks do not loan out too many of these reserves or the result will be
A) additional unemployment. B) higher inflation. C) higher interest rates. D) a smaller money multiplier.
People derive utility in their lives from consuming goods (all other goods), g, and clean air (measured as the number of particulates removed per m3), a, as measured with the utility function U(g,a) = g0.6a0.4. The price index of consumer goods equals $20 per day. Income equals $1000. What is likely to happen to the number of asthma cases as the price of clean air (abatement cost) increases from
$10 to $20? A) Asthma cases decrease because the particulates per m3 increase by 2 units. B) Asthma cases increase because the particulates per m3 decrease by 2 units. C) Asthma cases increase because the particulates per m3 increase by 2 units. D) There is not enough information to answer this question.