Which of the following is a flow variable?
A) income
B) money
C) financial wealth
D) all of the above
E) none of the above
A
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The greater the magnitude of the external costs of production, a. The larger is the deadweight loss from overproduction
b. The greater would be the optimal pollution tax. c. The further the private market solution ignoring those costs would deviate from the socially efficient level of output. d. All of the above are true.
For an economy as a whole,
a. the market value of production must equal expenditure. b. investment must equal the value of stocks and bonds purchased. c. wages must equal income. d. consumption must equal saving.
If the federal funds rate were above the level the Federal Reserve had targeted, the Fed could move the rate back towards its target by
a. buying bonds. This buying would increase the money supply. b. buying bonds. This buying would reduce the money supply. c. selling bonds. This selling would increase the money supply. d. selling bonds. This selling would reduce the money supply.
Which of the following contributes to the projected rise in government spending on Social Security and Medicare as a percentage of GDP?
a. increasing life expectancies b. increasing healthcare costs c. increasing fertility rates d. Both a and b are correct.