________ is the benefit that a consumer of a good or service receives
A) Marginal private benefit
B) Marginal external benefit
C) Marginal social benefit
D) Both answers A and B are correct.
A
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If the United States imports goods and services for a total of $45 billion, exports goods and services for a total of $40 billion, records $4 billion as net interest and zero as net transfers, then the U.S. current account balance is
A) $1 billion. B) -$1 billion. C) $89 billion. D) zero. E) $81 billion.
Which of the following is not a correct characterization of the U.S. business cycle?
A) Employment is procyclical. B) Consumption is procyclical. C) Real wages are procyclical. D) Prices are procyclical.
Many economists conclude that in-kind income programs have served to increase levels of inequality significantly from the levels suggested by aggregate income statistics
a. True b. False Indicate whether the statement is true or false
Contractionary policies are government stabilization policies intended to decrease:
A. unemployment. B. planned spending. C. population. D. average labor productivity.