According to the neoclassical theory of distribution, the wages paid to workers depend on the
a. supply of labor.
b. demand for labor.
c. marginal productivity of labor.
d. All of the above are correct.
d
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According to the equation of exchange, how can national income grow even though the amount of money does not?
A) price level increases B) real GDP decrease C) velocity increases D) velocity decreases
Assuming that the demand for a good has decreased and the supply of a good has increased by the same amount, then:
a. The change in price is determinate but the change in quantity is indeterminate. b. The change in quantity is determinate but the change in price is indeterminate. c. Neither the change in price nor the change in quantity will be indeterminate. d. Both the change in price and the change in quantity will be indeterminate.
Infrastructure projects result in the most value from a fiscal stimulus but a problem is that
a. there are technological issues that need to be solved. b. they are too complex to implement. c. most such projects are "prestige" projects, with little tangible value. d. most such projects do not increase productivity long into the future. e. most such projects are not "shovel ready" when the stimulus is needed.
Seemingly positive disagreements often have normative origins
a. True b. False