If a three-fourths majority of both houses of the U.S. Congress was required for approval of a spending project, economic analysis indicates that
A) inefficient government spending programs would expand.
B) the political power of special-interest groups would increase.
C) federal spending would increase sharply from the current level.
D) the power of special interests would be diminished and federal spending reduced.
D) the power of special interests would be diminished and federal spending reduced.
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Economics is the study of the ________ people make to attain their goals, given their ________ resources
A) decisions; household B) choices; scarce C) purchases; unlimited D) income; available
Steve purchases some land for $30,000 . He maintains it, but makes no improvements to it. One year later he sells it for $32,000 . Stephanie puts $30,000 in a savings account that pays 6% interest. Steve has to pay the 50% capital gains tax, Stephanie is in the 35% tax bracket. The inflation rate was 2%. Who had the higher before-tax real gain and who had the higher after-tax real gain?
a. Steve had both the higher before-tax real gain and the higher after-tax real gain. b. Steve had the higher before-tax real gain but Stephanie had the higher after-tax real gain. c. Stephanie had the higher before-tax real gain but Steve had the higher after-tax real gain. d. Stephanie had both the higher before-tax real gain and the higher after-tax real gain.