Devry ECO450 Week 2 Quiz

ECO 450 Week 2 QuizQuestion 1About 80 percent of federal receipts are accounted for by:Answer· Question 2Transfer payments by the federal government in the United States account for about:Answer· Question 3Following the circular flow of a mixed economy, firms receive a flow of dollars from and send goods and services to:Answer· Question 4In 2008, which country listed below has the highest percentage of government spending relative to GDP?Answer· Question 5Government purchases for consumption and investment:Answer· Question 6Government goods and services are usually:Answer· Question 7Following the circular flow of a mixed economy, which entity or entities distribute resources?Answer· Question 8State and local government expenditure in the United States accounts for about:Answer· Question 9A mixed economy is one in which:Answer· Question 10Total annual expenditures by federal, state, and local governments in the United States in the 1990s accounted for roughly:Answer· Question 11The real cost of government goods and services is:Answer· Question 12If the economy is currently operating on a point on the production possibility curve for government goods and services versus private goods and services,Answer· Question 13Taxes:Answer· Question 14The old-age dependency ratio is:Answer· Question 15Federal government expenditures in the United States account for about:Answer