In the Keynesian model, exogenous variables include
a. planned investment.
b. taxes.
c. planned inventories and government spending.
d. planned investment and government spending.
e. all of the above
E
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The percentage of deposits that banks must hold as reserves is called the
A) percentage rate. B) required reserve ratio. C) Fed rate. D) discount rate.
Which of the following is true of the U.S. government?
a. The government in the United States takes the form of a single-party state where opposition parties are not legally allowed to take power. b. The size of the federal government in the U.S. has been declining since 1930. c. Employment in the government sector currently exceeds employment in the manufacturing sector. d. The U.S. federal government plays a much smaller role than state and local government due to states' rights. e. The service sector of the U.S. economy employs more number of people than the U.S. government.
If the government raised land taxes $20/acre, this would increase the farmer's average fixed cost. How would that affect (a profit maximizing) farmers' decision about the quantity of corn to produce in the short run?
a. It would have little change because in the short run the farmer will consider only the Average Variable Cost (AVC) in making a decision on quantity supplied b. It will decrease the quantity the farmer is willing to supply because the Average Variable Cost (AVC) will increase for the farmer c. It will decrease the quantity the farmer is willing to supply because the farmer considers all costs in the short run in making a decision about quantity supplied d. None of the above
In economics, the total amount received for selling a good or service is referred to as
A) revenue. B) profit. C) capital gains. D) factor payments.