If the federal budget has an actual budget deficit of $100 billion and a cyclically adjusted budget deficit of $75 billion, then the economy

A) must be at potential real GDP. B) must be above potential real GDP.
C) could be below or above potential real GDP. D) must be below potential real GDP.

D

Economics

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Refer to the table below. Given that an individual's opportunity cost of time is $30 per hour, which of the two apartments should she rent?

Apartment Monthly Commuting Time (Hours) Monthly Rent ($) 1 60 3,600 2 20 4,500 What will be an ideal response?

Economics

Refer to Table 6-3. Over what range of prices is the demand inelastic?

A) between $12 and $16 B) over the entire range of prices C) between $8 and $16 D) between $2 and $8

Economics