In mid-2008, estimated losses on mortgages were estimated to be about ________ of U.S. GDP
A) 2%
B) 5%
C) 7%
D) 9%
A
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Which of the following is TRUE of the current account balance?
A) Monetary expansion has no effect on the current account balance. B) Monetary expansion decreases the current account balance. C) Fiscal expansion increases the current account balance. D) Fiscal expansion has no effect on the current account balance. E) Monetary expansion increases the current account balance.
Suppose the market demand for milk is Qd = 150 - 5P. Additionally, suppose that a dairy's variable costs are VC = 2Q2 (where Q is the number of gallons of milk produced each day), its marginal cost is MC = 4Q and there is an avoidable fixed cost of $50 per day. In the long run there is free entry into the market. Suppose the demand for milk doubles. If in the short run the number of firms is fixed and their fixed costs are sunk, the short run market supply function is:
A. Qs = 40P if price is greater than $20. B. Qs = P/4 if price is greater than $20. C. Qs = 2.5P if price is greater than $20. D. Qs = 300 - 10P for all prices.
Suppose Player X's probability of winning a gamble is 0.8 while that of Player Y is 0.5 . Which of the two will be willing to pay for a test and why?
The form of business organization responsible for generating the greatest portion of business revenues in the United States is the
A. corporation. B. partnership. C. proprietorship. D. dual proprietorship.