Currently, total government expenditures in the United States is approximately:
a. 50 percent of GDP.
b. 75 percent of GDP.
c. 40 percent of GDP.
d. 80 of GDP.
c
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Economic magnitudes measured at the prices actually paid are referred to as ________ magnitudes
A) "real" B) "actual" C) "nominal" D) "unadjusted" E) "gross"
What is not true for a system of financial penalties for polluters?
A. Firms may be fined for pollution. B. Firms might have to pay a tax for each unit of pollution created. C. Firms would be encouraged to pollute less. D. Firms are always guaranteed the permit to pollute.
Kathleen is considering expanding her dress shop. If interest rates rise she is
a. less likely to expand. This illustrates why the supply of loanable funds slopes downward. b. more likely to expand. This illustrates why the supply of loanable funds slopes upward. c. less likely to expand. This illustrates why the demand for loanable funds slopes downward. d. more likely to expand. This illustrates why the demand for loanable funds slopes upward.
Suppose the production of 12 tons of copper in the United States requires the same amount of resources as the production of 3 tons of aluminum. In Mexico, 12 tons of copper requires the same amount of resources as 2 tons of aluminum. Implicitly
A. Neither country has a comparative advantage in producing aluminum. B. Mexico has a comparative advantage in producing copper. C. Mexico has an absolute advantage in producing copper. D. The United States has an absolute advantage in producing aluminum.