Nearly _____________ of the world's people have never made a phone call.
Fill in the blank(s) with the appropriate word(s).
two-thirds
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Refer to Table 27-2. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if Congress and the president do not use fiscal policy
If Congress and the president want to keep real GDP at its potential level in 2017, they should A) decrease the discount rate. B) decrease government purchases. C) conduct expansionary fiscal policy. D) buy Treasury securities.
Many East Asian currencies during the 1990s were
a. allowed to float freely b. pegged to the Japanese yen c. pegged to the U.S. dollar d. pegged to gold e. none of the above
In an economy in which velocity of money in circulation is constant and real output grows at an average rate of 3 percent per year, a 5 percent average rate of growth in the money supply would result in a: a. constant price level
b. slowly increasing price level. c. slowly decreasing price level. d. stable 4 percent growth in real GDP. e. stable 4 percent growth in nominal GDP.
The sum of consumer and producer surplus measures the total benefits that buyers and sellers receive from participating in a market
a. True b. False Indicate whether the statement is true or false