The term "depreciation" in the national income accounts refers to
a. the adjustment of GDP for inflation.
b. plant and equipment "used up" in producing current output.
c. citizenship differences among income recipients.
d. government transfer payments minus tax revenues.
b
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If the MPC = 0.75, the government spending multiplier would be
A) 0.25. B) -7.5. C) 4. D) 25.
Behavioral economics is the study of situations in which people make rational choices
Indicate whether the statement is true or false
Which of the following statements is false?
A) People who live in cities with good weather receive that benefit for free. B) People who own property in cities with good weather receive higher rents, ceteris paribus. C) Housing prices are higher in cities with better weather, ceteris paribus. D) The demand for housing is higher in cities with good weather, ceteris paribus.
_____ is the charging of "an unconscionable or exorbitant rate of interest."
Fill in the blank(s) with the appropriate word(s).