For certain intangibles that cannot be measured, it is best to
A. guess.
B. exclude them from cost benefit analysis, and then calculate how large they must be to
reverse the decision.
C. reevaluate using the Hicks-Kaldor criterion.
D. leave it to the private sector to decide on value.
B. exclude them from cost benefit analysis, and then calculate how large they must be to
reverse the decision.
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The quantity theory of money and prices
A) is derived from the equation of exchange assuming that prices remain constant. B) shows how a change in the price level leads to a change in the money supply. C) shows how the demand for money is inversely related to the price level. D) is the hypothesis that changes in the money supply leads to proportional changes in the price level.
Ricardian equivalence refers to
a. the equivalence of taxes and revenues in fiscal policy. b. the fact the households incorporate inflationary expectations in calculating interest payments. c. the equivalence of imports and exports in an open economy. d. the possibility that households may say save now so that they can pay the higher taxes later if there is a tax cut at the present time which drives up future interest payments. e. none of the above.
A firm's profit can be calculated by subtracting its total revenue from its total costs
a. True b. False Indicate whether the statement is true or false
What is the consensus among economists and other monetary policy experts regarding the usefulness of the monetary policy instruments available to central banks in normal times?
What will be an ideal response?