A nonexclusive good is a good that
a. is sold in low price markets
b. is impossible to keep people from enjoying the benefits the good provides.
c. is produced by a perfectly competitive firm.
d. is produced at the lowest possible cost.
b
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At the beginning of the recession of 2007-2009, real GDP in the United States was ________ potential GDP, and in June 2009, real GDP was ________ potential GDP
A) below; below B) above; below C) below; above D) above; above
Which of the following statements best describes Social Security benefits?
a. Since the passage of the Social Security Indexing Act of 1972, the level of Social Security benefits increases each year along with the Producer Price Index. b. Since the passage of the Social Security Indexing Act of 1972, the level of Social Security benefits increases each year along with the Consumer Price Index. c. Since the passage of the Social Security Indexing Act of 1972, the level of Social Security benefits increases at a fixed percentage each year. d. Since the passage of the Social Security Indexing Act of 1972, the level of Social Security benefits increases based on the Prime Rate.
The following figures are for the banking system. Deposits at the central bank = 400 U.S. Government Securities = 600 Transactions Deposits = 1,700 Loans = 800 Stockholder's Equity = 70 Other Assets = 450 Other Liabilities = 380 Borrowing from the Federal Reserve = 250 Cash in the Vault = 150 The reserve ratio on transactions deposits = 10% Currency in circulation = 10 The monetary base equals:
a. 80 b. 1,700 c.A multiple of 80 d. A multiple of 250 e. 560
Suppose 80% of U.S. trade is with England and the rest is with Japan. If the dollar rises by 10% against the pound and rises by 20% against the yen, what is the percentage change in the effective exchange rate of the United States?
a. -16% b. -12% c. -8% d. -4%