Of the following, the largest component of GDP is
A) personal consumption expenditure.
B) gross private domestic investment.
C) government expenditure on goods and services.
D) net exports of goods and services.
A
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Many residents of the city of Adelphia drive without automobile insurance. Assuming that Adelphia is just like any other city and these are risk averse individuals, which of the following is most likely TRUE?
A) Economic models do not work. B) These people maximize wealth. C) The price of automobile insurance exceeds their maximum value of insurance. D) There are no automobile accidents or thefts in the city of Adelphia.
In the United States, where there is a permanent increase in the money supply, exchange rate overshooting is caused in part by:
a. higher domestic interest rates. b. an appreciation of the dollar. c. lower foreign interest rates. d. a depreciation of the dollar.
The Federal Reserve System was created in:
A. 1926. B. 1946. C. 1895. D. 1913.
Julie's total utility from cheeseburgers is given in the table above. What is the marginal utility of the third cheeseburger?
A) 86 B) 28.7 C) 20 D) 14