The pollution emitted by a power plant is an example of a detrimental externality.
Answer the following statement true (T) or false (F)
True
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In the above figure, point B depicts
A) an inflationary gap with real GDP in excess of potential GDP. B) an inflationary gap with real GDP less than potential GDP. C) a recessionary gap with real GDP in excess of potential GDP. D) a recessionary gap with real GDP less than potential GDP.
A "risky" asset will earn a rate of return close to that of "riskless" assets if its risk is
A) nondiversifiable. B) diversifiable. C) nominal, as opposed to real. D) related to the rate of inflation. E) no greater than the risk of similar assets.
Which of the following is a belief of the monetarists?
a. They think the Great Depression was made worse by poor conduct of monetary policy. b. They do not believe monetary policy is transmitted to the economy only through its effect on interest rates and planned investment. c. They believe that the interest-investment curve is vertical. d. All of these.
Gross National Product equals:
a) Net National Product adjusted for inflation b) Gross Domestic Product adjusted for inflation c) Gross Domestic Product plus net property income from abroad d) Net National Product plus net property income from abroad