Consumption expenditures in the U.S. usually account for approximately __________ percent of GDP
A) 40
B) 50
C) 60
D) 70
E) 80
D
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A bank with $100 million in deposits has $15 million of cash in the bank, $10 million in deposits with the Fed, and $15 million in government securities in its vault. Its total reserves equal
A) $10 million. B) $15 million. C) $25 million. D) $40 million.
In the figure above, point E could be obtained if
A) resources were shifted from education to health care. B) resources were used more efficiently. C) society's resources increased. D) resources were shifted from health care to education.
In 2009, household spending was the smallest component of total spending in the U.S. economy
a. True b. False Indicate whether the statement is true or false
Which of the following is a normative statement?
a. The unemployment rate has decreased. b. Governments should hire anyone who cannot get a job. c. Governments in most developed countries provide unemployment benefits. d. The majority of union members work for the government.