A recession occurs when ________, when ________, or when both of these occur.
A. potential output grows rapidly; actual output equals potential output
B. potential output grows rapidly; actual output falls below potential output
C. potential output grows slowly; actual output rises above potential output
D. potential output grows slowly; actual output falls below potential output
Answer: D
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If purchasing power parity exists and the exchange rate is 1.50 U.S. dollars per British pound, than a latte that has a price of $4.00 in San Jose, California, has a price of ________ in London, England
A) 2.67 pounds B) 4.00 pounds C) 8.00 pounds D) 0.37 pounds E) 6.00 pounds
Refer to the following graph. Which of the following statements is true?
a. Equilibrium is shown at point A.
b. When the price is $13.50 a shortage exists.
c. When the price is $11.50 a surplus exists.
d. If the price is currently $11.00 then the price will fall over time.
Ways to "game" the budgeting process include
a. accelerating sales if just short of a target b. accelerating expenses if just short of a target c. accelerating sales once a target is met d. delaying expenses costs once a target is met
The personal saving rate is
A. the difference between personal income and disposable personal income. B. the percentage of disposable personal income that is saved. C. the difference between total personal spending and personal saving. D. the ratio of personal income to personal saving.