Economists Novy-Marx and Rauh contend that cities are
A. accurately stating the value of their assets but understating the value of their pension liabilities.
B. accurately stating the value of their assets but overstating the value of their pension liabilities.
C. accurately stating their pension liabilities.
D. understating the value of both their assets and liabilities.
Answer: A
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Indicate whether the statement is true or false
Investment spending is insensitive to changes in the interest rate and the SRAS curve is upward sloping. According to a monetarist, an increase in the money supply will __________ Real GDP. According to a Keynesian, an increase in the money supply will __________ Real GDP
A) raise; not change B) not change; raise C) lower; lower D) raise; lower E) none of the above
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A. a contractionary monetary policy. B. a contractionary fiscal policy. C. an expansionary monetary policy. D. an expansionary fiscal policy.
When compared to the profit-maximizing price and quantity supplied, an average-cost pricing policy for a natural monopoly causes the price the monopolist charges to ________ and the quantity it sells to ________.
A. increase; decrease B. decrease; decrease C. decrease; increase D. increase; increase