Which of the following equations describes government saving?
A. T - TR + INT + G
B. T - TR + INT - G
C. T - TR - INT + G
D. T - TR - INT - G
Answer: D
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In addition to being a direct application of _____, user charges are also quite ______
a. the benefit principle; inefficient b. the benefit principle; efficient c. the ability-to-pay principle; inefficient d. the ability-to-pay principle; efficient
Based on the information in the table, we can conclude that, in 1932, each of the following events occurred except: Currency held by public (in billions)Reserve-deposit ratioBank reserves (in billions)Money supply (in billions)December 1931$4.590.095$3.11$37.3December 1932$4.820.109$3.18$34.0
A. The Federal Reserve conducted open-market sales of U.S. government bonds. B. Banks were keeping more of their deposits in reserves, and making fewer loans. C. The Federal Reserve injected reserves into the banking system. D. The public increased the amount of currency it held.
The aggregate production function is Y = 5K0.5L0.5. If there are 49 units of capital and 16 units of labor, aggregate output is
A. 60 units B. 70 units. C. 140 units. D. 325 units.
In the short run, at least one factor of production is fixed. This implies that beyond some level of output a firm will:
A. "learn by doing." B. experience diminishing marginal returns. C. experience increasing marginal returns. D. have a U-shaped long-run average cost curve.