The value of money in the United States is based on the stocks of precious metals held by the U.S. government.
Answer the following statement true (T) or false (F)
False
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A budget line shows the
A) consumption possibilities of a consumer at a given level of income and prices. B) complete set of preferences for a household at various incomes. C) consumption possibilities for several sets of relative prices at a level of income. D) rate at which consumers wish to substitute one good for another.
A perfectly competitive firm breaks even at the level of output where
A. P = ATC. B. P = MC. C. P > ATC. D. P < ATC.
Refer to the above table (all figures in millions). Which country experienced the greatest economic growth from 2014 to 2015?
A) A B) B C) C D) D
Federal government expenditures, as a percentage of GDP
A) rose from 1950 to 1991, fell from 1992 to 2001, and have risen from 2001 to the present. B) rose from 1950 to 1980, fell from 1981 to 2001, and have risen from 2001 to the present. C) have fallen since the early 1950s to the present. D) have risen since the early 1950s to the present. E) rose from 1950 to 2001 and then fell from 2001 to the present.