The sales of the 50 largest corporations in the U.S. economy amount to nearly 37 percent of GDP
a. True
b. False
Indicate whether the statement is true or false
True
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Amanda can prepare a Thai meal for a group in 2 hours and can type a 10 page paper in the same amount of time. Morgan can prepare the meal in 3 hours. Morgan will be the more efficient typist as long as she can type the a paper in less than
a. 4 hours. b. 3 hours. c. 2 hours. d. 1 hour.
Suppose the economy is in a recessionary gap. If government expenditures are currently $700 billion and tax revenues are currently $450 billion, the (total) budget deficit is _____________. Assume that economists estimate that if the economy were operating at full employment then government expenditures would be $600 billion and tax revenues would be $500 billion. The structural deficit is
_________________ and the cyclical deficit is _______________. A) $1.15 trillion; $1.1 trillion; $100 billion B) $400 billion; $300 billion; $100 billion C) $400 billion; $100 billion; $300 billion D) $250 billion; $100 billion; $150 billion
The majority of proven world oil reserves are
A. under Alaska. B. held by non-Persian Gulf OPEC members. C. in the Persian Gulf region. D. in the former Soviet Union.
As a firm's output expands, the
A. ATC will reach a minimum before the AVC. B. AVC will reach a minimum before the ATC. C. ATC and AVC will reach minimums at the same output.