If the nominal exchange rate between the American dollar and the New Zealand dollar is 1.36 New Zealand dollars per American dollar, how many American dollars are required to buy a product that costs 3.50 New Zealand dollars?

The cyclical deficit is the portion of the deficit

A) that would exist if the economy were at full employment. B) that does not add to the national debt. C) that is the result of nondiscretionary federal spending. D) created by fluctuations in real GDP. E) that is the result of discretionary federal spending.

Which of the following would be viewed as a common property problem?

A) Your property is burglarized. B) Vandals damage your property. C) People pick all of the flowers in a public park. D) To be safe you must lock your door at night.