A public good:
A. can never be provided by a nongovernmental organization.
B. cannot be provided to one person without making it available to others too.
C. generally results in substantial spillover costs.
D. costs essentially nothing to produce and thus is provided by the government at zero price.
Answer: B
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A person buys a bond with a face value of $10,000 for $9,780. Each year until the maturity date the bond buyer receives $650 from the issuer of the bond. The yield on the bond is
A. 6.6 percent. B. 6.5 percent. C. 10.0 percent. D. 6.75 percent. E. There is not enough information to answer the question.
Personal income is equal to:
a. NI minus personal income tax. b. NI minus net factor income from abroad. c. NI plus income currently earned but not received - income currently received but not earned. d. NI minus indirect business taxes. e. NI plus income currently received but not earned - income currently earned but not received.
The short-run aggregate supply (SRAS) curve represents the relationship between
A. the price level and the real Gross Domestic Product (GDP) without full adjustment or full information. B. the price level and the nominal Gross Domestic Product (GDP). C. the price level and the real Gross Domestic Product (GDP) without full adjustment but with full information. D. the decisions of producers and the decisions of consumers.
National output is a function of ________
A) capital and saving B) technology, employment and demand C) labor and depreciation D) labor, technology and capital