Rational behavior for an economist means that individuals
A) are motivated by self-interest.
B) never change their minds.
C) always value societal needs more than their own needs.
D) are self-sacrificing.
Answer: A
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In Figure 5-1 above, if the budget line is BB0 and the natural real GDP is $5300, the structural surplus or deficit is
A) FC. B) AD. C) FA. D) none of the above.
The Keynesian viewpoint is that the investment curve is highly responsive to the changes in the rate of interest
a. True b. False Indicate whether the statement is true or false
In a tradeable effluent permit market,
a. effluent allowances may be used, but not effluent credits b. high-cost abaters will buy permits as long as the price is lower than their MAC c. a permit price should be established where all polluters’ MACs are equal d. all of the above e. (b) and (c) only
The growth rate of potential GDP is the sum of the growth rates of
A. labor force and population. B. labor force and labor productivity. C. labor force and capital stock. D. labor productivity and capital stock.