Which of the following is the largest component of federal spending today?
A) income security
B) Social Security
C) Medicare
D) national defense
Answer: B
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The existence of an inflationary gap would tend to benefit most
A. bankers. B. retired persons. C. unemployed workers. D. stock owners.
On May 12, 2011, it cost U.S. $1.44 to buy one euro. How many euros would U.S. $1 buy?
a. 0.69 b. 1.44 c. 1.69 d. 2.44
The nominal value of GDP is:
a. expressed in monetary values adjusted for inflation b. expressed in monetary values that are not adjusted for inflation. c. expressed in numeric values that does not correlate to a monetary term. d. expressed as a ratio between the value of consumption expenditure and the value of investment expenditure.
Trevor’s Tire Company produced and sold 500 tires. The average cost of production per tire was $50. Each tire sold for a price of $65. Trevor’s Tire Company’s total costs are
a. $7,500. b. $25,000. c. $32,500. d. $67,500.