Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential
B. higher; potential
C. higher; higher
D. lower; higher
Answer: B
Economics
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The goods and services provided by hospitals, doctors, therapists, and pharmacies are collectively referred to as ________
Fill in the blank(s) with correct word
Economics
The peak in U.S. government spending as a percent of GDP occurred during
A) World War II. B) the 1960s war on poverty. C) the Great Depression. D) the war against Iraq in the 2000s.
Economics