Approximately how much of the world's output does the United States produce?
A. 5 percent.
B. 12 percent.
C. 18 percent.
D. 30 percent.
Answer: C
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Explain when a country would face a balance of payments deficit and when it would face a balance of payments surplus if it was operating under a fixed exchange rate system
What will be an ideal response?
The moral hazard in team production arises from
a. poorly designed team membership b. lack of proper assignment of individual tasks c. disorganization in groups d. a conflict between tactically best interest and one's duty e. insufficient experience
If the Fed increases the required reserve ratio (RRR), then the banks must set aside ________(more/less) of their deposits
Fill in the blank(s) with the appropriate word(s).
The spending multiplier indicates that:
A. changes in investment, government, or consumption spending trigger much larger changes in real GDP. B. an autonomous increase in saving will cause output to rise by a multiple of the additional saving. C. a market economy will be more stable than classical economists thought. D. the marginal propensity to consume is greater than one.