Clean air is an example of a public good.
Answer the following statement true (T) or false (F)
False
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Based on opportunity cost, where would one expect to have the most difficulty finding a teenager to baby-sit?
A) A high-income area with lots of teenagers B) A low-income area with lots of teenagers C) A middle-income area with lots of teenagers D) Any income area because teenagers no longer like babysitting
If the economy is in an inflationary gap, which of the following is the least appropriate policy mix?
a. a budget surplus and expansionary monetary policy b. a budget deficit and expansionary monetary policy c. a budget deficit and contractionary monetary policy d. a budget surplus and contractionary monetary policy
In developing countries, government expenditure levels are most closely related to:
A. what will bring about regime change. B. considerations about what will keep the existing government in power. C. what activist fiscal policy is necessary to achieve potential output. D. what is necessary to achieve long-term macroeconomic objectives.
Which of the following best expresses the proceeds a lender receives from a one-year simple loan when the annual interest rate equals i?
A. FV/i B. PV/i C. PV(1 + i) D. PV + i