What percentage of their spending do U.S. consumers allocate to food purchases?
A. 1 percent.
B. 8 percent.
C. 13 percent.
D. 15 percent.
Answer: C
You might also like to view...
All of the following characteristics apply to monopolistic competition EXCEPT
A) a large number of firms compete. B) each firm produces the same identical product. C) firms compete on product quality, price, and marketing. D) there are no barriers to enter or exit the industry.
Since 1950, the average length of a recession in the United States has been
A) such that recessions barely exist. B) less than a year. C) between 1 and 2 years. D) greater than 2 years.
The output of Mexican citizens who work in Texas would be included in the
A) net national product of the United States. B) gross national product of the United States. C) gross national product of Mexico. D) gross domestic product of Mexico.
Starting from full employment output, fiscal policy will be completely crowded out in real terms, even with __________ LM curve, so long as prices are __________
A) a vertical; flexible B) a vertical; fixed C) an upward-sloping; flexible D) an upward-sloping; fixed