What is the key feature that differentiates business cycle theories?
A) whether the theory was developed before or after the Great Depression.
B) whether the theory is Keynesian or non-Keynesian.
C) whether the theory also explains economic growth.
D) whether the theory explains how monetary policy works.
B
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When a firm has earnings it has not yet paid out to the owners, those earnings are called
A) surplus capital. B) cash reserves. C) unearned income. D) retained earnings.
Which of the following statements is true?
A) Marginal analysis is a key tool used while optimizing in levels. B) Comparative statics is a tool that can be used in both optimization in levels and optimization in differences. C) Marginal analysis is the comparison of economic outcomes before and after some economic variable is changed. D) Comparative statics involves calculating the incremental cost of moving from one alternative to the next best alternative.
All of the following were important colonial industries except:
a. tobacco production. b. production of ships' stores. c. manufacturing of finished metal products. d. shipbuilding.
_____ capital refers to tangible items that are created to increase productivity, such as, tools, factories, machinery, etc.
Fill in the blank(s) with the appropriate word(s)