Measured as a share of the economy, government spending
a. has been between 10 and 15 percent of the U.S. economy since 1930.
b. has been between 20 and 25 percent of the U.S. economy since 1930.
c. rose from less than 10 percent in 1929 to over 35 percent in 2012.
d. declined from more than 50 percent in 1929 to approximately 25 percent in 2012.
C
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Refer to Figure 2-5. If the economy is currently producing at point W, what is the opportunity cost of moving to point X?
A) 19 million tons of steel B) 5 million tons of paper C) 9 million tons of paper D) 3 million tons of steel
Which of the following statements about rates of return is most likely correct?
a. Countries with relatively low real rates of return (for example, low interest rates) will tend to experience weaker currencies as they attract money from abroad. b. Countries with relatively high real rates of return (for example, high interest rates) will tend to experience weaker currencies as they attract money from abroad. c. Countries with relatively low real rates of return (for example, low interest rates) will tend to experience stronger currencies as they attract money from abroad. d. Countries with relatively high real rates of return (for example, high interest rates) will tend to experience stronger currencies as they attract money from abroad.
An increase in the wages of truck drivers might be explained by which of the following factors?
A. A reduction in the price of rail transportation B. A reduction in the demand for transportation C. An increase in the price of gasoline D. An increase in competition within the trucking industry
If disposable income is $400 billion, consumption spending is $380 billion, and MPC is 0.5, what is the level of saving?
A. $20 billion. B. $210 billion. C. $380 billion. D. $590 billion.