Say's law states that demand creates its own supply
Indicate whether the statement is true or false
False
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According to the quantity theory of money, an excess quantity of money supplied will lead to
A) a reduction in spending and higher interest rates. B) a reduced level of real Gross Domestic Product (GDP). C) a higher level of employment. D) a higher price level.
The greater the interest rate
A) the greater the present value of a sum to be received a year in the future. B) the greater the opportunity cost of another dollar of current consumption. C) the more a dollar invested today will be worth a year from now. D) the lower the discount rate.
According to the World Bank definitions, there are more people in the world living in extreme poverty than there are living in severe poverty.
Answer the following statement true (T) or false (F)
If the tax cost of this proposed project is $600 per person, a majority vote will:
Answer the question on the basis of this table showing the marginal benefit a particular public project will provide to each of the three members of a community. No vote trading is allowed.
A. defeat this project and resources will be underallocated to it.
B. pass this project and resources will be allocated efficiently.
C. pass this project and resources will be overallocated to it.
D. pass this project and resources will be underallocated to it.