Author Question: Despite the large federal deficits during the last few decades, public capital in the U.S. declined ... (Read 81 times)

ETearle · **on:** Jun 30, 2018

Despite the large federal deficits during the last few decades, public capital in the U.S. declined because:
a. a growing share of the federal budget goes toward income redistribution, especially for the elderly.
b. of less labor productivity.
c. of increasing farm subsidies.
d. of the growing portion of the national debt owed to foreigners.
e. a growing share of the federal budget goes toward income redistribution, especially for national defense

Question 2

Unanticipated inflation penalizes:
a. those who are saving.
b. those who are borrowing.
c. governments.
d. those who are in high-growth industries where wages are growing faster than prices.
e. those who can't find jobs at any wage rate.