In a closed economy, public saving plus private saving is equal to
A) the budget deficit. B) the budget surplus.
C) taxes minus transfers. D) investment.
D
You might also like to view...
The formula for the multiplier is (1 - MPC)
Indicate whether the statement is true or false
In the specific factors model, a country's production possibility frontier is ________ because of ________
A) a straight line; diminishing marginal returns B) a curved line; diminishing marginal returns C) a straight line; constant marginal returns D) a curved line; constant marginal returns E) a curved line; a limited supply of labor
An increase in ________ leads to an equal ________ in the monetary base in the short run
A) float; decrease B) float; increase C) discount loans; decrease D) Treasury deposits at the Fed; increase
The marginal revenue product of labor is
a. how much labor can be purchased with the revenue from the sale of one more unit of the good b. how much the marginal revenue changes when you add more labor c. the same as the marginal revenue product of capital when the markets for labor and capital are in equilibrium d. determined by the wage rate e. the contribution to total revenue made by the marginal laborer