The unreported underground economy represents about 1 percent of U.S. GDP
Indicate whether the statement is true or false
F
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$20 is to be divided among two individuals—Gary and Jamie. Which of the following allocations is NOT Pareto efficient?
A) Gary receives $1, and Jamie receives $19. B) Gary receives $19, and Jamie receives $1. C) Gary receives $8, and Jamie receives $9. D) Gary receives $15, and Jamie receives $5.
What function is money serving when you deposit money in a savings account?
A unit of account A store of value A checkable deposit A medium of exchange
If TR < TC, a firm would ________ in the short run and ________ in the long run.
A. either operate or shut down; contract B. operate; contract C. shut down; contract D. shut down; expand
Assume the United States is currently running a current account deficit. The most effective way of eliminating this current account deficit would be to temporarily ________ government purchases and ________ the domestic money supply.
A. increase; decrease B. decrease; increase C. increase; increase D. decrease; decrease