When Ronald takes another economics class, other people in society benefit. The benefit to these other people is called the marginal ________ benefit of the class
A) social
B) private
C) external
D) Coasian
E) extra
C
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An increase in foreign demand for U.S. exports will ________ the demand for dollars and lead the dollar to ________
A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
Which of the following is not true about the composition of GDP in 2014?
A) Imports are greater than exports. B) Business fixed investment is the largest component of investment. C) Purchases made by state and local governments are greater than purchases made by the federal government. D) The majority of consumer spending is on durable goods.
An economic policy has a decent chance of working as intended, if ________
A) the policy causes no change in expectations B) if mistaken expectations are not very costly C) the rationale behind the policy is well-understood by the public D) expectations are formed in the same way by both the public and the policymakers
One of the most centrally planned economies in the world today is found in
a. the United States b. Germany c. Canada d. Japan e. North Korea