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.
Answer: A
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In general, economists place all factors of production into which three categories?
A. Land, labor, and capital B. Technology, land, and capital C. Land, labor, and technology D. Technology, labor, and capital
When computing p-values,
A. both the size of the sample and variation in the population matter. B. variation in the population matters, but the size of the sample does not matter. C. the size of the sample matters, but variation in the population does not matter. D. neither the size of the sample nor variation in the population matter.
Real-business-cycle theory focuses on factors affecting:
A. Aggregate demand B. Aggregate supply C. The velocity of money D. Consumer spending
If the government wishes to increase GDP by $1,000b, and the MPC is 0.6, it should increase its spending by:
A. $250b. B. $400b. C. $600b. D. $1,000b.