The national income accounts include a value for the amount of capital stock "used up" during the production of current output. This dollar amount is called
a. appreciation.
b. dollarization.
c. amortization.
d. depreciation.
d
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The main reason barter is extremely inefficient is that:
A. you have to find someone who both has what you want and wants what you have. B. it can have very high transactions costs associated with it. C. people and firms have to spend a lot of time looking for mutually agreeable trades. D. All of these are true.
If people anticipate higher inflation, but inflation remains the same then
a. the short-run Phillips curve would shift right and unemployment would rise. b. the short-run Phillips curve would shift right and unemployment would fall. c. the short-run Phillips curve would shift left and unemployment would rise. d. the short-run Phillips curve would shift left and unemployment would fall.
The Fed's revenue comes:
A. from Congressional appropriation. B. solely from taxes placed on member banks. C. from internally generated funds from interest on securities it holds and fees charged to banks for payments system services. D. from the Department of Commerce.
If a tax is placed on perfectly competitive firms that impose external costs on society, the firm's marginal cost curve will shift ________ and the industry supply curve will shift to the ________.
A. up; left B. down; right C. down; left D. up; right