As of December 2008, housing accounted for about ________ of the typical consumer's spending
a. 32 percent.
b. 30 percent.
c. 43 percent.
d. 65 percent.
e. 70 percent.
C
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Suppose the United States is experiencing a balance of payments deficit. To prevent the exchange rate from depreciating, the U.S. Treasury must
A) buy both dollars and foreign currency. B) sell both dollars and foreign currency. C) sell dollars and buy foreign currency. D) sell foreign currency and buy dollars.
A decrease in the government's budget deficit will
a. increase the supply of loanable funds, lower the interest rate, and increase investment spending b. reduce the supply of loanable funds, raise the interest rate, and reduce investment c. increase the demand for loanable funds, raise the interest rate, and reduce investment spending d. reduce the demand for loanable funds, lower the interest rate, and increase investment spending e. increase the supply of loanable funds, reduce the demand for loanable funds, leave the interest rate unchanged, and increase investment spending
For the purpose of analyzing the gains and losses from a tax on a good, we use tax revenue as a direct measure of the
a. government's benefit from the tax. b. government's loss from the tax. c. deadweight loss of the tax. d. overall net gain to society of the tax.
Assume that the graphs show a competitive market for the product stated in the question.
Select the graph above that best shows the change in the market for leather coats when leather coats become more fashionable among young consumers.
A. graph (1) B. graph (2) C. graph (3) D. graph (4)