Questions from General Economics

Q: A patent is necessary to motivate innovation in areas where the innovation

A patent is necessary to motivate innovation in areas where the innovation is a) costly to figure out and easily copied. b) cheap to figure out and difficult to copy. c) costly to figure out and di...

Q: Federal spending is typically ___ percent of GDP. a)

Federal spending is typically ___ percent of GDP. a) less than 10 b) between 18 and 22 c) between 25 and 30 d) more than 30

Q: The intermediate-term external benefits of Head Start a)

The intermediate-term external benefits of Head Start a) focus on reducing the likelihood of the children ending up in prison. b) focus on reducing the likelihood that the children will become preg...

Q: The type of private property that is protected by a copyright or

The type of private property that is protected by a copyright or patent is a) land. b) financial capital. c) intellectual property. d) personal property.

Q: The optimal level of police protection would compare the _______ with the

The optimal level of police protection would compare the _______ with the ________. a) marginal cost of hiring an additional officer; marginal benefit of crime reduction b) average cost of all offi...

Q: In the market for loanable dollars, an increase in the profitability

In the market for loanable dollars, an increase in the profitability of investments overall will be revealed in a) an increase in the supply of loanable dollars. b) an increase in the demand for lo...

Q: The FY 2016 federal budget was around a) $4

The FY 2016 federal budget was around a) $4 million. b) $4 billion. c) $4 trillion. d) $4 quadrillion.

Q: In the years prior to the recession the economy was growing

In the years prior to the recession the economy was growing a) at about its typical rate. b) at a rate much slower than typical. c) at a rate much faster than typical.

Q: Per capita real economic growth during the Industrial Revolution through the mid

Per capita real economic growth during the Industrial Revolution through the mid-1970s was a) negative. b) zero. c) 1 percent. d) 2 percent.

Q: In terms of when these fiscal shortfalls are likely to require significant

In terms of when these fiscal shortfalls are likely to require significant changes to budgets or program rules, which of the following is likely to occur first? a) State pension funds b) Local pensi...