When considering the demand for money, which two assets do we assume individuals can hold?
a. Stocks and bonds
b. Money and stocks
c. Money and bonds
d. Checking accounts and savings accounts
e. Money and real estate
C
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An across-the-board income tax cut where all income taxes were cut by a constant percentage would
A. necessarily go to higher-income people and alter the after-tax distribution of income in favor of high-income people. B. necessarily go to higher-income people. C. alter the after-tax distribution of income in favor of high-income people. D. by definition, keep the after-tax distribution of income relationships constant.
The cost of capital is best described as the
A) opportunity cost of financing a capital outlay. B) funds that must be acquired to finance a capital outlay. C) decrease in stockholder equity due to a capital outlay. D) All of the above
We can calculate how long a country will take to double its real GDP per capita using:
A. its average growth rate. B. its GDP deflator. C. the CPI indexation factor. D. the GDP growth estimator.
Which of the following is not a basic characteristic of a perfectly competitive market?
a. a large number of buyers and sellers b. significant nonprice competition among firms c. a standardized product produced by firms d. no barriers to entry e. no barriers to exit