Debt is to deficit as
A. money is to income.
B. flow is to stock.
C. rent is to dividend.
D. property is to wealth.
Answer: A
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The marginal productivity theory of income distribution states that
A) income distribution is determined by the marginal productivity of the factors of production that individuals own. B) as more and more units of labor are added to a fixed quantity of capital, eventually labor's contribution to a firm's income will decrease. C) factors of production in short supply command higher prices than those available in abundant quantities. D) capital owners receive the bulk of a nation's income because capital-intensive production generates productivity gains.
Monetarists directly study the link between money and economic activity using
A) structural models. B) reduced-form models. C) scientific models. D) experimental models.
When comparing the autonomous expenditure multiplier in a closed-economy model to the autonomous expenditure multiplier in an open-economy model it can be concluded that
a. the multiplier in the open-economy model will be larger than in the closed-economy model. b. the multiplier in the open-economy model will be smaller than in the closed-economy model. c. both multipliers are the same. d. None of the above.
When network externalities are present:
A. a person's demand cannot be affected by the number of other people who have purchased the good. B. we can obtain the market demand curve simply by summing individuals' demands. C. one person's demand also depends on the demands of other people. D. the social cost of production is larger than the private cost