In 2009, U.S. real GDP decreased by 3 percent and the population grew by 1 percent. Thus, real GDP per person
A) decreased 4 percent.
B) increased 4 percent.
C) decreased 3 percent.
D) increased 2 percent.
E) decreased 2 percent.
A
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Net interest payments made by the government depend on the total federal debt held and on the level of interest rates
Indicate whether the statement is true or false
The market where banks borrow from other banks for short periods of time is the:
a. discount market. b. federal funds market. c. inter-bank loan market. d. national bank market. e. liquidity market.
After Hurricane Andrew hit Florida and Louisiana, consumers expressed outrage at the high prices being charged for chainsaws, generators, and bottled water. If governments followed the consumers' demands and imposed price ceilings in these markets, what is the likely result?
Which of the following is a major disadvantage of setting the price of a good below equilibrium and using waiting in line rather than price to ration the good?
a. Compared to price rationing, waiting in line is unfair since it is easier for those with higher incomes to wait in line. b. Waiting in line imposes a cost on the consumer; paying higher prices does not. c. Both waiting in line and higher prices are costly to consumers, but unlike the payment of a higher price, waiting in line does not provide suppliers with an incentive to expand future output. d. Waiting in line benefits consumers at the expense of producers.