Investment is a(n) ________ that changes the ________ of capital.
A. stock; flow
B. liability; asset
C. asset; liability
D. flow; stock
Answer: D
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"Privatization of government owned industries is likely to increase unemployment in the short run" is a ________ statement about ________ policy.
A. normative; monetary B. normative; structural C. positive; fiscal D. positive; structural
If the GDP deflator is less than 100, then for that year nominal GDP ________ real GDP
A) equals B) is less than C) is greater than D) may be greater than or less than
Which of the following represents a positive supply shock, a negative supply shock, a positive demand shock, or a negative demand shock?
a. The government unexpectedly doubles all personal income tax rates. b. A newly discovered infectious disease shuts down all international ports indefinitely. c. Major technological progress occurs in the market for green energy. d. An earthquake wipes out 60% of the manufacturing capacity of an economy. e. The government unexpectedly eliminates the inheritance tax and the capital gains tax on sales of stocks and bonds.
The problem of excess pollution mainly occurs because of
A) asymmetric information. B) a positive externality. C) a negative externality. D) a monopoly.