Gross federal debt in 2005 was approximately what percent of 2005 GDP?
a. 5 percent
b. 25 percent
c. 40 percent
d. 50 percent
e. 90 percent
D
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Which of the following is likely to happen if the quantity of bank reserves held at the Fed increases?
A) The stock of money in the economy increases. B) The number of loans issued by banks decrease. C) Bank deposits decrease. D) The real interest rate increases.
Suppose that, instead of taking this test, you could either have worked and earned income or partied and had a pleasurable time. Your opportunity cost of taking the test is the
A) forgone work. B) forgone party. C) forgone working and partying. D) forgone working or partying, depending on which was your next best choice. E) test because you are taking it.
Empiricism refers to using ________ to analyze the world
A) data B) beliefs C) traditions D) value judgments
Assume a firm sells two complementary products. Bundling is more likely to be a successful price discrimination strategy when one group of customers is willing to pay a higher price for one of the items in the bundle and another group is willing to
pay a higher price for the other item. Indicate whether the statement is true or false