_____ is a stock measure of an individual's or household's assets and net liabilities, at a given point in time.
a. Wealth
b. An asset
c. Assets, wealth, and income are all stock measures.
d. Income
Answer: a. Wealth
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Refer to the table above. What is the firm's marginal cost when it produces 155 units of the good?
A) $0.66 B) $1 C) $1.33 D) $1.50
The government's present value budget constraint states that
A) taxes must equal government spending in each period. B) the present value of government spending must be equal to the present value of consumers' disposable incomes. C) the present value of government spending must be equal to the present value of taxes. D) the government may run deficits each and every year, as long as the deficits are sufficiently small.
In the monetarist view, if the money supply has been rising too quickly for years, the resulting inflation can be brought under control by slowing money growth. This will
a. quickly reduce inflation with no side effects. b. quickly reduce inflation with higher unemployment. c. increase unemployment depending upon how quickly the public changes their expected price level. d. slowly reduce inflation with higher unemployment. e. both c and d.
The United Auto Workers is an example of
A) a public-sector union. B) a craft union. C) an industrial union. D) a socialist union.