The application of Keynesian economics to public finance and fiscal policy by Abba Lerner, and its incorporation into Paul Samuelson's economic principles textbook, was known as procyclical finance.
Answer the following statement true (T) or false (F)
False
Keynes's student Abba Lerner developed what he called a functional finance view of public finance and fiscal policy.
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An in-kind transfer payment is:
A. made out of kindness. B. less costly to provide than a cash payment. C. a benefit in the form of a good or service. D. a cash payment.
If a country wants to keep the domestic currency overvalued against a foreign currency:
A) it will buy both the foreign and domestic currency. B) it will sell both the foreign and domestic currency. C) it will buy the domestic currency and sell the foreign currency. D) it will buy the foreign currency and sell the domestic currency.
The income statement indicates a company's success or failure in deriving a profit from its operations, it also reflects the inflow and outflow of cash from operating activities.
a. true b. false
The marginal propensity to consume is defined as the:
A. fraction of total income not spent on consumption. B. proportion of any change in income that is spent on consumption. C. fraction of total income spent on consumption. D. fraction of a change in income that is saved.