In the above table, what is the average total cost to produce 5 units of output?
A. $40
B. $60
C. $80
D. $55
Answer: B
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Ignoring any supply-side effects, if government expenditure on goods and services decreases by $10 billion and taxes decrease by $10 billion, then real GDP ________ and the price level ________
A) increases; rises B) increases; falls C) decreases; rises D) decreases; falls E) does not change; does not change
Suppose a bank has $100 million in checking account deposits with no excess reserves and the required reserve ratio is 10 percent. If the Federal Reserve reduces the required reserve ratio to 8 percent, then the bank can make a maximum loan of
A) $0. B) $2 million. C) $8 million. D) $10 million.
A Job Creation through Entrepreneurship Act, debated in the House of Representatives in 2009, would award grants to small business owners, some of which would be aimed at women, Native Americans, and veter-ans
The Act would provide $189 million in 2010 and $531 million between 2010 and 2014 . Explain how you would expect this Act to influence what, how, and for whom goods and services are produced in the United States.
The official number of poor in the United States
A) is higher today than at any other time in our history. B) has risen steadily since 1981. C) was lowest in the late 1960s. D) is lowest today.