Suppose $1 = 120 yen in New York, $1 = 2 euros in London, and one euro = 75 yen in Tokyo. A speculator with $1 million would get a profit of __ by engaging in a 3-point arbitrage.

While Medicaid is targeted towards low-income individuals, exact qualifications are determined by _____

a. the Department of Health and Human Services b. state governments c. local governments d. judicial rulings

What variables besides real GDP tend to decline during recessions? Given the definition of real GDP, argue that declines in these variables are to be expected