The demand for a product at a given time is defined as the
a. desire for it.
b. sum spent on it.
c. measure of total utility for it.
d. amount that would be bought at various prices.
d. amount that would be bought at various prices.
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In 2014, which type of tax raised the most revenue for the U.S. federal government? Which type of tax raised the most revenue for state and local governments?
What will be an ideal response?
Why may a central bank intervene in the foreign exchange market when its currency is appreciating?
A) concerns about the country's exports becoming less competitive B) concerns about inflation C) concerns about imports becoming less competitive D) to sterilize the effects on the domestic economy
How is real GDP per capita calculated?
a. Divide real GDP by the total population. b. Multiply real GDP by 100. c. Divide real GDP by 100. d. Multiply the real GDP by the total population.
The purchasing power parity theory is useful in making ____ predictions about exchange rates and their fluctuations.
A. long-run B. intermediate-run C. medium-run D. short-run