Subtraction of ________ from Gross National Product yields Gross Domestic Product
A) net factor income
B) depreciation
C) factor income to the rest of the world
D) net government income
E) none of the above
A
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According to the monetarists, the ratio of nominal GDP to the money stock should be
a. highly unstable in short run and in long run. b. unstable only during recession. c. unstable only in the long run. d. quite stable in the short run and the long run. e. unstable only if the LM curve shifts.
When all costs and benefits in a cost-benefit analysis do not occur at the same point in time, a discount rate is used to _____
a. reduce the future costs and benefits relative to current costs and benefits b. increase future costs and benefits relative to current costs and benefits c. increase current costs relative to future benefits d. reduce future costs relative to current costs
Consumer equilibrium occurs where the budget line is tangent to the:
a. lowest possible indifference curve. b. highest possible indifference curve. c. utility maximizing indifference curve. d. utility equalization indifference curve.
Which of the following provide benefits to society at large and not just to the person(s) who pursues it?
a. both technological knowledge that is a public good and education b. technological knowledge that is a public good, but not education c. education, but not technological knowledge that is a public good d. neither education, nor technological knowledge that is a public good