Refer to Table 10-1. Using the table above, what is the approximate growth rate of real GDP from 2015 to 2016?
A) 1% B) 2% C) 3% D) 4%
C
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During the last part of the 19th century, which of the following factors contributed to the lag in railroad construction in the Southeast and Southwest?
a. sparseness of population b. war-induced poverty c. costal shipping d. All of the above are correct. e. Only b and c are correct.
The entity that carries full responsibility for setting the overall direction of monetary policy and guiding the money supply is the:
A. Federal Open Market Committee. B. Board of Governors. C. regional bank presidents' cabinet. D. Federal Reserve Chairman.
Refer to the accompanying figure. The equilibrium price is ________, and the equilibrium quantity is ________.
A. $4; 6 B. $8; 6 C. $6; 4 D. $2; 8
Average variable cost is defined as:
A. total cost divided by total output. B. variable cost divided by total output. C. variable cost divided by price. D. total cost divided by number of workers.