The longer the annuity on a sum of money the lower will be its present value
Indicate whether the statement is true or false
F
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If the marginal private cost of producing one kilowatt of power in California equals five cents and the marginal social cost of each kilowatt equals nine cents, then the marginal external cost equals ________ per kilowatt
A) five cents B) nine cents C) four cents D) fourteen cents
When a firm has economic profits equal to zero
A) the firm is earning a normal rate of return on investment. B) the firm is not earning a normal rate of return on investment. C) the firm should shut down. D) the firm's accounting profits are also zero.
According to Keynes, if private sector demand is insufficient to maintain full employment, the government should: a. make the economy's natural transition to a lower level of employment as easy as possible. b. shock the economy with an increase in aggregate demand
c. reduce aggregate supply to reduce inflation. d. print money to promote consumer spending. e. take steps to increase aggregate supply in an economy.
Categories of unemployment include frictional unemployment, structural unemployment, cyclical unemployment, discouraged workers, and the underemployed
Indicate whether the statement is true or false