If you wanted to measure changes in fiscal policy intentions, you should use the
a. capital budget.
b. actual deficit.
c. inflation-accounted deficit.
d. structural deficit.
d
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Suppose we plot the total revenue curve with quantity on the horizontal axis and revenue on the vertical axis (as in Figure 8.1 in the book). Under price-taking behavior, the total revenue curve should be:
A) an inverted U-shaped curve (first increasing and then decreasing). B) a U-shaped curve (first decreasing and then increasing). C) a horizontal line with vertical axis intercept equal to the market price. D) a straight line from the origin with slope equal to the market price.
If a bond offers $1,000 in interest payments at the end of each of next 5 years and a repayment of $10,000 also at the end of the 5 years and the current discount rate is 3 percent, what is the present value of the bond?
A) $12,569 B) $13,205 C) $10,857 D) $4,580
Which type of money has intrinsic value?
a. commodity money b. fiat money c. both commodity money and fiat money d. neither commodity money nor fiat money
The labor force includes only
A. people who are employed. B. the employed and the unemployed. C. the employed, the unemployed, and discouraged workers. D. the unemployed and discouraged workers.