Test-3 - ECON 2030 Exam 3 Spring `08 NOTE: Correct answers...

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ECON 2030 – Exam 3 – Spring ‘08 NOTE: Correct answers are underlined. 1.
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Real (adjusted for inflation) federal spending per person in the United States Stud ent Resp onse Valu e 1. has incre ased by appro ximat ely 10 perce nt per decad e durin g the last 225 years . 0% 2. incre ased more rapidl y durin g the ninet eenth centu ry than durin g the twent ieth centu ry. 0% 3. incre ased
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2.
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In 2006, federal expenditures on income transfers, health care, national defense, and interest on the national debt accounted for Stud ent Resp onse Valu e 1. appro ximat ely half of feder al spend ing. 0% 2. less than 20 perce nt of feder al spend ing. 0% 3. more than four- fifths of feder al spend ing. 100% 4. about 40 perce nt of feder al
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3.
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What percentage of the total government expenditures of the United States is undertaken at the federal level? Stud ent Resp onse Valu e 1. appro ximat ely 80 perce nt 0% 2. appro ximat ely 40 perce nt 0% 3. appro ximat ely 20 perce nt 0% 4. appro ximat ely 60 perce nt 100%
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4.
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Government expenditures as a share of the U.S. economy are Stud ent Resp onse Valu e 1. larger than Cana da, Franc e, and the Unite d King dom but slight ly small er than Germ any and Italy. 0% 2. the large st in the worl d. 0% 3. small er than most West ern Euro pean count ries
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5.
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Total government spending (federal, state, and local) sums to approximately Stud ent Resp onse Valu e 1. one- third of the U.S. econ omy . 100% 2. 10 perce nt of the U.S. econ omy. 0% 3. 20 perce nt of the U.S. econ omy. 0% 4. one- half of the U.S. econ omy. 0%
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6.
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If the federal government runs a budget deficit, and the budget deficit as a percent of GDP is equal to the growth rate of real output, the Stud ent Resp onse Valu e 1. natio nal debt will decre ase as a share of GDP. 0% 2. size of the natio nal debt (in dollar value ) will decli ne. 0% 3. natio nal debt will incre ase as a share of GDP. 0% 4. natio nal
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7.
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The sum of all past budget deficits and surpluses of the federal government is the Stud ent Resp onse Valu e 1. budg et surpl us. 0% 2. trade defici t. 0% 3. natio nal debt . 100% 4. budg et defici t. 0% Score: 10/10
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8.
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If the federal government were to run a budget surplus, this would Stud ent Resp onse Valu e 1. decre
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This test prep was uploaded on 04/20/2008 for the course ECON 2030 taught by Professor Thomassen during the Spring '08 term at Auburn University.

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Test-3 - ECON 2030 Exam 3 Spring `08 NOTE: Correct answers...

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