Input-output analysis is rarely used because
a. it requires tremendously complex calculations.
b. it requires large amounts of data.
c. market economies can instead rely on the price mechanism to organize production.
d. All of the above are correct.
d
You might also like to view...
In a proportional income tax system
A) marginal tax rates are the same regardless of the level of taxable income. B) marginal tax rates increase as the level of taxable income increases. C) marginal tax rates decline as the level of taxable income declines. D) everyone pays the same dollar amount in taxes.
Stable velocity as a contributing factor to successfully using money growth as a stabilizing monetary policy tool, is more important in an environment where:
A. inflation occurs, the problems caused by a variable velocity are just as severe at low levels of inflation as at high levels of inflation. B. inflation is extremely high (e.g., over 100 percent). C. inflation is low (e.g., less than 10 percent). D. there is deflation.
Full employment is defined by most economists as the minimization of
A. cyclical unemployment. B. frictional unemployment. C. seasonal unemployment. D. structural unemployment.
Objects that have value because the holder can exchange them for something else of value:
a. fiat money b. commodity money c. currency d. representative money