Are money and income the same thing?
a. No, money is measured at a point in time and income is measured for a period of time.
b. No, money is measured for a period of time and income is measured at a point in time.
c. Yes, they are just measured in different ways.
d. Yes, the only difference is real versus nominal.
a
You might also like to view...
When the amount of output is such that marginal social benefit exceeds marginal social cost, then to reach the efficient quantity
A) production should be increased. B) production should be decreased. C) production should remain constant. D) More information is needed to determine if production should be increased, decreased, or not changed.
Refer to above figure. With free trade and no tariffs, what is the quantity of Widgets consumed domestically?
What will be an ideal response?
The above figure shows the short-run production function for Albert's Pretzels. The marginal productivity of labor for the third worker is
A) 6. B) 8. C) 24. D) not known from the information provided.
The ratio of the change in GDP to an initial change in aggregate expenditures (AE) is the:
a. spending multiplier. b. permanent income rate. c. marginal expenditure rate. d. marginal propensity to consume.