Believers in a fixed-rule approach to stabilization policy propose that
a. Congress should balance the high employment budget.
b. the Fed should keep the money supply growth constant.
c. the economy be stabilized by automatic mechanisms.
d. All of the above are correct.
d
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The total amount spent to buy new physical capital and replace old capital is referred to as
A) net investment. B) wealth. C) gross investment. D) savings. E) depreciation.
A firm's marginal rate of return on investment curve shows the amount
a. saved by the firm at each alternative interest rate b. invested by the firm at each alternative interest rate c. saved by the firm at each alternative rate of time preference d. invested by the firm at each alternative marginal resource cost e. saved by the firm at each alternative marginal revenue product of investment
Which of the following are among the effects of exposure to SO2 and NOX?
a. visibility impairment c. forest damage b. acidification of surface waters d. all of the above
Suppose the market for shoes consists of three consumers. The accompanying table shows the quantity demanded at various prices for each consumer:PricePer PairPairs Demandedby PatPairs Demandedby LeighPairs Demandedby Chris$100010$75031$50173$302105The data suggest that Leigh:
A. has a greater demand for shoes than either Pat or Chris does. B. has a higher income than either Pat or Chris do. C. does not experience diminishing marginal utility. D. prefers shoes to other items that are for sale.