The income of Lebron James above the minimum payment needed to acquire the type of service he performs is
a. pure profit.
b. economic rent.
c. marginal rent.
d. competitive rent.
b
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If a voter is ignorant of some of the issues that affect public policy, then the voter is definitely behaving irrationally
Indicate whether the statement is true or false
The government agency that oversees the banking system and is responsible for the conduct of monetary policy in the United States is
A) the Federal Reserve System. B) the United States Treasury. C) the U.S. Gold Commission. D) the House of Representatives.
A liquidity trap is said to exist when a change in monetary policy has no effect on
A) the money supply. B) the natural level of employment. C) aggregate supply. D) interest rates.
John Maynard Keynes argued that
A. Macro failure is likely to occur but will go away quickly. B. Macro failure is likely to occur, and it isn't likely to go away quickly. C. Macro failure is unlikely to occur. D. None of the choices are correct.