As a share of total national income, government spending generally has
A) been constant over the last 50 years.
B) increased over the last 50 years.
C) decreased over the last 50 years.
D) increased until 20 years ago, and then decreased steadily.
Answer: B
Economics
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The Coase Theorem is the proposition that private transactions are efficient if property rights exist, if only a ________ number of parties are involved, and if transactions costs are ________
A) large; low B) large; high C) small; low D) small; high
Economics
If a subsidy is granted to perfectly competitive firms that provide external benefits to society, the firm's marginal cost curve will shift ________ and the industry supply curve will shift to the ________.
A. down; left B. up; right C. up; left D. down; right
Economics