Combined federal, state, and local government expenditures in the United States were approximately 9 percent of the gross domestic product (GDP) in 1930 . How large were government expenditures as a share of GDP in 2012?

Refer to Figure 26-4. In the figure above, a movement from point A to point B would be caused by

A) a decrease in real GDP. B) an increase in the interest rate. C) a decrease in the price level. D) an increase in the price level.

A sales manager is trying to create a pricing strategy for a new product: a home Wi-Fi signal booster. Which of the following facts is most relevant to estimating the point at which the marginal utility per dollar of the device drops to zero?

a. A competitor offers a highly similar, albeit cheaply made, product for an incredibly low price. b. Most homeowners will need only one, at most two, Wi-Fi signal boosters to cover the entire house. c. The margin of profit for most Wi-Fi signal boosters on the market is incredibly high. d. Most homeowners have problems with their Wi-Fi and would benefit highly from a signal booster.