Over the last two decades, what is the single factor that has caused the increase in the percent of GDP spent on the military?
A. our tremendous need for imported oil to fuel our inefficient transportation system and large military.
B. our obligations to protect our friends in Asia.
C. our obligations to provide protection for the Americas and the Caribbean island countries.
D. play the role of world protector.
A. our tremendous need for imported oil to fuel our inefficient transportation system and large military.
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As people come to expect higher inflation, the long-run Phillips curve shifts leftward
a. True b. False Indicate whether the statement is true or false
The accounting profits for a firm are 20% of output, and the opportunity cost of financial capital is 8% of output. Given this information, what are the firm’s economic profits?
a. 6% of output b. 10% of output c. 12% of output d. 8% of output
When policymakers make decisions in response to a pre-specified rule, they are undertaking
A. discretionary policy. B. passive policy. C. irrational policy. D. active policy.
The ratio of nominal GDP to real GDP multiplied by 100 is the
A. NNP. B. national income. C. GDP deflator. D. same as depreciation.