Measured as a share of national income, government expenditures on income transfers during the last 70 years have
a. grown rapidly.
b. declined substantially.
c. been virtually unchanged.
d. increased throughout much of that period, but they have declined substantially since 1980.
A
You might also like to view...
The "deadweight loss" from a monopoly refers to
a. the portion of a monopolist's profits that are above the competitive profit level. b. the increase in price due to the monopolization of a market. c. the inefficient use of factors of production by a monopoly. d. the loss of consumer surplus due to the monopolization of a market that is not transferred to another economic actor.
In the long run a perfectly competitive firm operates ____ and a monopolistically competitive firm operates ____
a. at the efficient scale; with excess capacity b. at the efficient scale; at the efficient scale c. with excess capacity; with excess capacity d. with excess capacity; at the efficient scale