Payments to individuals for which no current goods or services are exchanged are known as
A. AD shortfalls.
B. AD excesses.
C. Income transfers.
D. Social Security payroll taxes.
Answer: C
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All of the following are components of aggregate expenditure except
A) government spending. B) net export spending. C) actual investment spending. D) consumption spending.
For collusion to make sense, the payoff matrix must be a
a. positive-sum game. b. zero-sum game. c. negative-sum game. d. negative-positive-sum game.
Other things the same, a decrease in velocity means that
a. the rate at which money changes hands falls, so the price level rises. b. the rate at which money changes hands falls, so the price level falls. c. the rate at which money changes hands rises, so the price level rises. d. the rate at which money changes hands rises, so the price level falls.
Sunk costs:
a. are not considered in marginal analysis. b. help to determine the optimal quantity of an activity. c. can dramatically increase marginal costs. d. are the same as variable costs.