From 1929 to 1933, in the course of the most severe collapse of gross domestic product in the history of the United States, the nation's annual output of goods fell by
What will be an ideal response?
more than 30 percent.
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Of the following, when would the U.S. exchange rate rise the most?
A) when the supply of and demand for U.S. dollars increase B) when the supply of U.S. dollars increases and the demand for them decreases C) when the supply of U.S. dollars decreases and the demand for them increases D) when the supply of and demand for U.S. dollars decrease
Of the combined Social Security tax rate, _____ goes to pay for _____
a. 2.9; Medicaid b. 2.7; Medicare c. 2.9; Medicare d. 2.7; Medicaid
Which of the following conditions must hold in the equilibrium of a competitive market where the government puts a specific tax on consumers?
A) The quantity sold and the price paid by the buyer must lie on the demand curve. B) The quantity sold and the seller's price must lie on the supply curve. C) The quantity demanded must equal the quantity supplied. D) the difference between the price the buyer pays and the price the seller receives must equal the specific tax. E) all of the above
If a man marries his hired housekeeper, the value of GDP
a. rises b. falls c. is unchanged d. rises, but the value of national income falls e. falls, but the value of national income rises