Total governmental purchases—federal, state, and local combined—accounted for about what percentage of domestic output in 2012?
A. 35 percent.
B. 20 percent.
C. 10 percent.
D. 5 percent.
Answer: B
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If the prices of all goods increase by the same proportion as income, the quantity demanded of good x will:
a. decrease. b. increase. c. remain unchanged. d. change in a way that cannot be determined from the information given.
A result of the Asian Crisis of 1997-1998 was
A. A major increase in the level of U.S. exports to Southeast Asia. B. Political stability in many Southeast Asian countries. C. An increase in the value of the U.S. dollar relative to Southeast Asian currencies. D. An increase in the value of Southeast Asian currencies relative to the U.S. dollar.
Suppose the marginal product of labor is MPN = 200 - 0.5Nwhere N is aggregate employment. The aggregate quantity of labor supplied is 300 + 8w, where w is the real wage. If a supply shock increases the marginal product of labor by 10 (to MPN = 210 - 0.5 N), by how much does the real wage increase?
A. 1 B. 2 C. 3 D. 4
The U.S. Postal Service uses Ramsey pricing
Indicate whether the statement is true or false