The three categories of federal government expenditures, in addition to government purchases, are
A) interest on the national debt, defense spending, and transfer payments.
B) defense spending, Social Security, and Medicare.
C) defense spending, budgets of federal agencies, and transfer payments.
D) interest on the national debt, grants to state and local governments, and transfer payments.
D
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Refer to Scenario 1. Is the slope coefficient statistically different from zero?
A) No. B) Yes. C) Inconclusive. D) None of the above.
Output per person is 170 in an economy in which 15 percent of the population are engaged in research and development, where their productivity is 0.002, and the total population size is 100 million
If this economy is on a balanced growth path, then output per person in the next period will be ________. A) 175.1 B) 195.5 C) 176.2 D) 177.3