The major component of federal government consumption is spending ...

[Brittanyd9008]

The major component of federal government consumption is spending on ________.
 
  A) Social Security, Medicare and Medicaid
  B) foreign aid
  C) capital goods, e.g. highways and schools
  D) national defense

Question 2

In 2005 hurricane Katrina devastated large portions of the Gulf Coast economy. Many refineries went offline disrupting oil refining and distribution. What do you think was a likely result?
 
  A) the restricted supply constituted a cost push shock that would have shifted the long run AS curve to the right
  B) the restricted supply constituted a cost push shock that would have shifted the short run AS curve to the left
  C) the restricted supply constituted a cost push shock that would have meant an upward movement along the Phillips curve
  D) all of the above
  E) none of the above

[BAOCHAU2803]

Answer to Question 1

D

Answer to Question 2

B

[Brittanyd9008]

TYSM

[coreycathey]

Excellent