A payment to an owner of a resource in excess of its opportunity cost is know as
A. real wages.
B. economic rent.
C. accounting profits.
D. financial interest.
Answer: B
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If Congress instituted an investment tax credit, the equilibrium quantity of loanable funds would
a. rise. b. fall. c. be unchanged. d. move in an uncertain direction.
Consistency of feasible generalized least square estimators requires the error term to be correlated with lags of the explanatory variable.
Answer the following statement true (T) or false (F)
Exhibit 4-6 Demand and supply curves
If market supply decreases and, simultaneously, market demand increases, the new equilibrium will show:
A. market price will decrease, and market quantity exchanged will increase. B. market price will increase, and market quantity exchanged will decrease. C. market price will increase, and the quantity exchanged could increase, decrease, or remain the same. D. market price could increase, decrease, or remain the same, and quantity exchanged will increase.
Since 1900, real GDP per capita has ________ and this measure ________ the actual growth in standards of living in the United States over this time
A) increased; understates B) increased; overstates C) decreased; understates D) decreased; overstates