Approximately what percentage of state and local expenditures do bond referenda account for?
A. 25 percent.
B. 50 percent.
C. 10 percent.
D. Less than 1 percent.
Answer: D
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Use the following graph to answer the next question.
Assume the economy is initially located on AD0 and AS0. An increase in the exchange rate and a decrease in worker productivity would result in price ________ and real domestic output ________.
A. E; B B. F; A C. G; B D. F; C
If there are short-run profits in a competitive industry, will firms enter or exit over the long run? At what point will the final equilibrium be achieved?
What will be an ideal response?
The price level in the economy between 2014 and 2015 rose from 100 to 110. Between 2015 and 2016, the price level rose from 110 to 121. How does the short-run Phillips curve predict the unemployment rate will change as a result?
A) The unemployment rate will increase since inflation increased. B) The unemployment rate will decrease since inflation increased. C) The unemployment rate will decrease since inflation decreased. D) The unemployment rate will not change since there is no change in the rate of inflation.
If real income is 250b and the amount of domestic absorption is 322b, what is the current account balance?
A) The current account deficit is 72b. B) The current account surplus is 72b. C) The current account deficit is 572b. D) The current account surplus is 572b.