ECO 450 Week 2 Quiz

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ECO 450 Week 2 Quiz

Question 1

About 80 percent of federal receipts are accounted for by:

Answer

· Question 2

Transfer payments by the federal government in the United States account for about:

Answer

· Question 3

Following the circular flow of a mixed economy, firms receive a flow of dollars from and send goods and services to:

Answer

· Question 4

In 2008, which country listed below has the highest percentage of government spending relative to GDP?

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· Question 5

Government purchases for consumption and investment:

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· Question 6

Government goods and services are usually:

Answer

· Question 7

Following the circular flow of a mixed economy, which entity or entities distribute resources?

Answer

· Question 8

State and local government expenditure in the United States accounts for about:

Answer

· Question 9

A mixed economy is one in which:

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· Question 10

Total annual expenditures by federal, state, and local governments in the United States in the 1990s accounted for roughly:

Answer

· Question 11

The real cost of government goods and services is:

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· Question 12

If the economy is currently operating on a point on the production possibility curve for government goods and services versus private goods and services,

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· Question 13

Taxes:

Answer

· Question 14

The old-age dependency ratio is:

Answer

· Question 15

Federal government expenditures in the United States account for about:

Answer

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