The average benefit of n units of an activity is the:
A. n divided by the total benefit of n units.
B. n times the total benefit of n units.
C. extra benefit from carrying out one additional unit of the activity.
D. total benefit of n units divided by n.
Answer: D
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The table below shows data for Indonesia
2009 2010 Real GDP growth rate 4.5 6.0 Inflation rate 4.8 5.7 Assuming the rate of velocity change is constant, the money growth rate in Indonesia was A) 0.3 percent in 2009. B) 11.7 percent in 2010. C) -0.3 percent in 2009. D) 5.7 percent in 2010.
In response to a temporary increase in government spending, the representative consumer consumes
A) more and takes more leisure. B) more and takes less leisure. C) less and takes more leisure. D) less and takes less leisure.
When the U.S. Treasury issues new bonds to replace bonds that have matured, it is engaging in
A. Income transfers. B. Debt servicing. C. Discretionary fiscal spending. D. Debt refinancing.
A particularly severe recession is called a(n):
A. growth recession. B. lull. C. super recession. D. depression.