You won the lottery in 2006 for $22 million and gave your sister $500,000. Your winning contributed how much to GDP?
A. $500,000
B. $22 million
C. $0
D. $21.5 million
Answer: C
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Which is larger: The price elasticity of demand for food or the price elasticity of demand for oranges? Why?
What will be an ideal response?
Refer to Figure 16-1. Suppose the economy is in a recession and expansionary fiscal policy is pursued. Using the static AD-AS model in the figure above, this would be depicted as a movement from
A) B to A. B) C to B. C) B to C. D) A to B. E) A to E.
Economic growth depends more on technological change than on increases on capital per hour worked
Indicate whether the statement is true or false
The government agency that oversees the banking system and is responsible for the conduct of monetary policy in the United States is
A) the Federal Reserve System. B) the United States Treasury. C) the U.S. Gold Commission. D) the House of Representatives.