During the 2000s, the Federal government's deficit
a. moved from large deficits to even larger deficits.
b. changed little as a percent of GDP.
c. moved from large surpluses to large deficits.
d. rose largely as a result of large tax cuts in 2001 and 2004.
e. both c and d.
E
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Suppose purchasing power parity holds. If the price level in the United States is 100 dollars per good and the price level in Japan is 250 yen per good, then the nominal exchange rate is ________ yen per dollar
A) 0.25 B) 0.4 C) 2.5 D) 4.0
Assume the following. In location A yearly temperatures range from -30°F to 100°F and in location B yearly temperatures range from 55°F to 75°F. In both locations the average yearly temperature equals 65°F. We can conclude that
A) temperature in location A has a higher variance. B) temperature in location B has a higher standard deviation. C) temperature in location A has a lower standard deviation. D) temperatures in both locations have the same standard deviation but different variances.