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