Government expenditures as a percentage of GDP in the U.S. increased from 1950 to 1975 but decreased sharply during the recession that began in 2008

A nonmonetary opportunity cost is

A) an explicit cost. B) a direct cost. C) an implicit cost. D) an accounting cost.

An increase in the US demand for pound causes

a. An appreciation of the pound b. Depreciation in the dollar c. None of the above d. Both a and b