A perpetuity is an annuity with a fixed term
a. True
b. False
B
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What can we predict about the effect on consumption of an increase in government spending?
A. Consumption will increase by the amount of the government spending. B. Consumption will increase by an amount equal to the MPC times the change in real GDP. C. Consumption will not rise as government spending rises. D. Consumption will increase by an amount equal to the MPC times the change in government spending.
If a natural disaster destroys some of the capital stock, then the classical model predicts
a. labor demand, real wages, and output will fall. b. labor demand and real wages will rise, output will fall. c. the labor market remains unchanged but output falls. d. None of the above
Loans made between borrowers and lenders are:
A. usually not taxable at the federal level. B. legal only in the state of origination. C. assets of the borrowers. D. assets of the lenders.
A market in which profit opportunities are eliminated almost instantaneously is
A. an efficient market. B. a capitalist market. C. a laissez-faire market. D. a socialist market.