True or False.  State and local government spending has remained relatively stable over the last four decades. 

Liquidity describes the following:

Match the definition to the correct word

True or False.  An international comparison of unemployment rates across countries can be easily accomplished.

Liquidity describes the following:

Suppose Bank of America has checkable deposits of $5,000,000 and a reserve requirement of 10%.  What is the money multiplier?

True or False the Law of diminishing returns states as additional increments of resources are added to a certain purpose, the marginal benefit from those additional increments will decline.

A decline in the birthrate increases or decreases the demand for children’s toys?

Refer to the table below.  Since 1950, in what year was the smallest GDP decline?  Enter your answer as an numeric date e.g. 1929. Dates Duration (Months) Percentage Decline in Output 1929 43 -26.70% 1937 13 -18.2 1945 8 -12.7 1948 11 -1.7 1953 10 -2.6 1957 8 -3.7 1960 10 -1.6 1969 11 -0.6 1973 16 -3.2 1980 6 -2.2 1981 16 -2.7 1990 8 -1.4 2001 8 -0.3 2007 18 -5.1  

The supply and demand conditions for a firm are given in table below.  Identify the equilibrium price before the social benefit of production is included.  Enter your answer as a numeric value no dollar sign e.g. 400. Price Quantity Supplied Quantity Demanded before Considering the benefits of technology Quantity Demanded after Considering the benefits of Technology $100 425 525 625 $200 450 500 600 $300 475 475 575 $400 500 425 550 $500 525 400 525 $600 550 375 500 $700 575 325 475