The federal budget deficit went over $100 billion for the first time in
A. 1977.
B. 1979.
C. 1982.
D. 1984.
C. 1982.
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Diseconomies of scale refers to when in the long run:
A. an increase in the quantity of output decreases average total cost. B. an increase in the quantity of output increases average total cost. C. average total cost does not depend on the quantity of output. D. None of these is true.
Personal consumption spending is the most sensitive component of aggregate demand to monetary policy
a. True b. False Indicate whether the statement is true or false
If we measure scarcity or abundance correctly, we should use the concept of "effective factor endowment." This means:
a. the actual factor endowment multiplied by the average productivity of workers compared with its share of world GDP . b. trying to find out how much labor and capital are really involved in producing goods competing with imports and exports. c. measuring more effectively a nation's actual factor endowment. d. the actual factor endowment of labor multiplied by the productivity of capital, because, effectively, the productivity of one depends on the quantity of the other.
If US consumers want to buy Chinese goods, they will
a. Buy Yuan and sell US Dollars b. Sell Yuan and buy US Dollars c. Neither buy nor sell Yuan d. Neither buy nor sell dollars