Which of the following is the best measure of size of government as a share of the economy?
What will be an ideal response?
total government expenditures as a percentage of GDP
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Refer to the table below. The marginal benefit of the 6th unit of activity is:Units ofActivity TotalCostTotalBenefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $7 B. $1 C. $2 D. $4
Henry deposits $2,000 in currency in the First Street Bank. Later that same day Jane Harris negotiates a loan for $5,400 at the same bank. After these transactions, the supply of money has
A. decreased by $3,300. B. increased by $2,100. C. increased by $3,300. D. increased by $5,400.
Relative percentage changes are used in measuring price elasticity of demand, so that
A) it does not matter whether price increases or decreases when calculating the elasticity. B) it does not matter what units are used to measure prices or quantities. C) we always obtain a positive number. D) larger numbers indicate greater responsiveness.
In foreign exchange markets, speculators help:
A. Decrease the influence of the futures market because their trades demand current payments B. Increase fluctuations in exchange rates because of wild buying and selling C. Decrease the value of most currencies because they tend to hedge the market D. Increase international trade because they absorb risk which others do not want to bear