Federal revenue as a percentage of GDP dropped significantly in the early 2000 . because
a. of increased transfer payments due to the recession.
b. of decreased transfer payments due to the recession.
c. of tax-rate decreases passed by the Bush administration and Congress as well as recessionary impacts.
d. of tax-rate increases passed by the Bush administration and Congress as well a recessionary effects.
e. of tax-rate increases passed by the Bush administration .
C
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Suppose you purchase a bottle of vitamin water with a price of $3. The price of $3 best reflects the function of money as a ________, and when you take $3 out of your wallet to purchase the bottle, money is functioning as a ________
A) medium of exchange; standard of deferred payment B) store of value; unit of account C) unit of account; medium of exchange D) medium of exchange; store of value
Extensive government restrictions on the use of capital are likely to
A. enhance economic freedom. B. create dead capital. C. enhance economic growth. D. result in capital resources being devoted to their most efficient uses.