The following data describe government spending and revenue.
(a)How much is the budget deficit?(b)How much is the primary budget deficit?(c)How much is the full-employment budget deficit?(d)How much is the current deficit?(e)How much is the current primary deficit?
What will be an ideal response?
| (a) | 300 |
| (b) | 100 |
| (c) | 450 |
| (d) | 100 |
| (e) | -100 |
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Recovery in the United States after the Great Recession can be characterized as:
a. U-shaped b. L-shaped c. V-shaped. d. W-shaped.
Basis
A. will be weak (negative) if local supply today is abundant relative to the supply the market expects at maturation of the futures contract. B. will be weak if local supply today is tight relative to the supply the market expects at maturation of the futures contract. C. will be weak (negative) if current supply is tight relative to the supply the market expects at maturation of the futures contract. D. will be stronger if the local market is further distant from the delivery location stipulated in the futures contract, other things being equal, and if the local market has excess supplies.
If marginal product is decreasing what can we say about what is happening to average product? Explain
What will be an ideal response?
Using the above table but now the bakery bakes 30 pizzas and 240 loaves of bread (alternative B), moving from alternative B to alternative D, what is the opportunity cost of one pizza pie?
A) 2.5 loaves of bread B) 2 loaves of bread C) 0.5 loaf of bread D) 150 loaves of bread