In 2007, at the federal level government purchases of goods and services putting transfer payments and interest aside, amounted to approximately what percentage of GDP?

If it costs $8 to produce a certain product and the product sells for $9, then

a. the markup is approximately 11.1 percent b. the market for this product must be monopolistic c. the markup is $1 d. firms in this industry should shut down to minimize their losses e. the revenue gained from the last unit produced is $1

A depreciation of the U.S. dollar in the foreign exchange market lowers U.S. Real GDP when the _____________ shift of the SRAS curve exceeds the __________ shift of the AD curve

A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward