A congested side street in your neighborhood is
a. excludable and rival in consumption.
b. excludable and not rival in consumption.
c. not excludable and rival in consumption.
d. not excludable and not rival in consumption.
c
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Suppose that the Federal Reserve issued bonds in the amount of $45 million and the reserve requirement was 10%, what would be the resulting change to the money stock?
A) $45 million B) $450 million C) $4.5 million D) The bond issuance would not impact the money stock only the monetary base.
The establishment of an income tax, ceteris paribus, will result in
A) a lower expenditure multiplier. B) a higher expenditure multiplier. C) no change in the size of the multiplier. D) None of the above.
Your aunt owns a gold mine. The marginal extraction cost of gold is $25 and remains constant over time. The current market price of a unit of gold is $200. Your aunt's appropriate discount rate is 12%
Next year, your aunt expects the price of a unit of gold to be $222. Should your aunt extract any gold from the mine this year?
In a simple Keynesian model, the aggregate supply curve is upward sloping
Indicate whether the statement is true or false