Between 1930 and 2010, the biggest budget deficit as a percentage of GDP was incurred by the federal government in:
a. 1980 to finance the Cold War
b. 1990 to prevent setbacks from the oil crisis.
c. 1945 to finance the fighting of World War II.
d. 2007 to combat terrorist attacks.
c
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A seller who succeeds in getting his various customers to pay different prices for the same good
A) is keeping his marginal revenue closer to his demand curve than it would otherwise be. B) is not using the marginal cost-marginal revenue formula to set prices. C) must be paying attention to overhead or sunk costs in setting prices. D) thereby misallocates resources because sales will be less than if a single price is charged.
Suppose that the Home country in the twosector (manufacturing and agriculture) specificfactors model has a comparative advantage in agricultural output. Will workers be better or worse off following the opening of trade with other countries?
a. Workers will be better off because the nominal wage increases. b. Workers will be worse off because the nominal wage decreases. c. Workers may be better off or worse off because the real wage in terms of the agricultural good rises and the real wage in terms of the manufactured good falls. d. Workers may be better off or worse off because the real wage in terms of the agricultural good falls and the real wage in terms of the manufactured good rises.
Marginal benefit refers to:
A. the average benefits that arise by using an additional unit of the managerial control variables. B. the change in average benefits arising from a change in the control variable. C. the additional benefits that arise by using an additional unit of the managerial control variables. D. None of the statements associated with this question are correct.
Which of these changes is likely to follow when the Fed purchases U.S. government securities?
What will be an ideal response?