From 2007 to 2009 our current account deficit
A. has been cut in half.
B. stayed about the same.
C. almost doubled.
D. more than tripled.
A. has been cut in half.
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
Answer the next question on the basis of the following demand schedule.PriceQuantity Demanded$615243342516Which of the following is correct?
A. Although the slope of the demand curve is constant, price elasticity of demand goes from inelastic to elastic as we move from high to low price ranges. B. Although the demand curve is convex to the origin, price elasticity of demand is constant throughout. C. Although the slope of the demand curve is constant, price elasticity of demand goes from elastic to inelastic as we move from high to low price ranges. D. A steep slope means demand is relatively inelastic; a flat slope means demand is relatively elastic.
Refer to Scenario 7.2. Suppose that you receive an order for 60 earthquake detectors. How much labor will you use to minimize the cost of 60 earthquake detectors?
A) 1 B) 5 C) 10 D) 45 E) none of the above
Which of the following statements is not accurate about the 1920s?
a. There was a significant increase in mass production and mass marketing. b. There was a significant increase in urbanization. c. The ability of many Americans to afford consumer goods dropped sharply. d. Consumer credit policies were developed and instituted on a large scale for the first time.