The national income accounts include a value for the amount of capital stock "used up" during the production of current output. This dollar amount is called

The quantity of a public good supplied by a private market is

A) smaller than the efficient quantity. B) equal to the efficient quantity. C) larger than the efficient quantity. D) the quantity that maximizes total public benefit.

John Maynard Keynes and Friedrich Hayek

a. had similar views with regard to the cause of the Great Depression and what might be done to prevent it from happening again. b. both believed that perverse monetary policy was the primary cause of the ups and downs of the business cycle. c. both believed that budget deficits and surpluses could be used to smooth the ups and downs of the business cycle. d. had polar opposite views with regard to the underlying causes of economic booms and bust, but nonetheless their scholarly work commanded widespread respect among economists.