According to economic theory, state governments A) will act in the public interest. B) will be biased toward chronic budget deficits. C) will act in the national interest. D) will do all of the above. E) will do none of the above.
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A) will act in the public interest.
B) will be biased toward chronic budget deficits.
C) will act in the national interest.
D) will do all of the above.
E) will do none of the above.
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- Which of these scenarios would explain a strategy used to evaluate large numbers in terms of what they mean per person? Answer choices a-A high school teacher wants to show her students how big the military budget is by comparing it to the size of the economy. b-A professor explains that a new piece of legislation would cost $50 billion and would tax each citizen $0.20. c-An economist wants to show the magnitude to which unemployment has increased over time by comparing it to unemployment in previous years. d-An economist shows an audience how severe overpopulation is by determining when the population will double.In the classical budgeting era from WWII to the early 70s, most citizens agreed on public policy and where to spend tax dollars? True or FalseThe budget can be seen as a contract of presidential and congressional promises to supply funds for programs citizens desire? True or false
- Which of the following statements about state budget is wrong? a. Budget may be annual or biennial b. About half of the states have dual budget system - operating budget and capital budget c. Most operate under the balanced budget requirement d. All governors have item veto powerWhich of the following is an example of a "government failure"? Government implementing a balanced budget amendment to get the national debt under control to protect future generations against consequences of accumulated debt. Government spending $56 billion on outdated technology, $1.2M to research social habits of monkeys, $25 billion lost on unreconciled transactions, $100 billion on Medicare overspending. Government enforcing the immigration laws on the books, securing the U.S southern border, protecting U.S. citizens' constitutional rights under the 1st Amendment, 2nd Amendment, etc. All of the answers are correct.Describe the FOUR classical types of potential market failure, in detail, and provide examples of each type. What is the relevance of the concept of market failure to government intervention in the economy? Explain as fully as possible
- . Which statement best describes how limited government is a key characteristic of the U.S. economy? Limited government restricts consumer spending. Limited government subsidizes domestic industries. Limited government encourages the growth of monopolies. Limited government promotes free-enterprise transactions.Should the United States government attempt to operate under a balanced budget? Why, or why not?A tax system based on the ability-to-pay principle claims that all citizens should A. pay taxes based on the benefits they receive from government services. B. pay taxes based on consumption rather than income. C. pay taxes based on saving rather than income. D. pay the same amount in taxes. E. make an equal sacrifice.
- Describe three ways a government policy maker can try to raise the growth in living standards in a society. Are there drawbacks to these policies?Although they are often unpopular with the public and there are many comments the public and there are many complaints that government is too large, bureaucracies perform important functions for good important functions for government. Describe the 3 main functions of bureaucracy and provide some examples of each buy some examples of each. How has the size of the federal bureaucracy changed over the last 50 years? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Describe three ways a government policymaker can try to raise the growth in living standards in a society. Are there any drawbacks to these policies? Which one if any do you think is most plausible?
