More than 70 percent of national income can be attributed to:
a. compensation of employees.
b. rental income.
c. corporate profit.
d. net interest.
e. proprietors' income.
a
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Positive externalities are _____ because their producers have no incentive to take the _____ into account
a. oversupplied; external cost b. undersupplied; external benefit c. oversupplied; external benefit d. undersupplied; external cost
The marginal physical product of capital is the
a. addition to total physical product generated by an additional unit of capital b. average contribution of capital to total output c. use of capital in production d. contribution of equipment capital to loanable funds e. profit made by an entrepreneur since the entrepreneur is the capitalist
In his book Losing Ground, _________ argued that between 1968 and 1980 government antipoverty spending quadrupled, but the poverty rate remained the same.
Fill in the blank(s) with the appropriate word(s).
Which of the following is not a possible source of last-minute reserves for a private bank?
A. Selling bonds. B. Borrowing reserves from other banks. C. Raising the discount rate. D. Borrowing reserves from the Federal Reserve System.