Real capital income is given by ________
A) MPK × K
B) capital share of income × output per unit of capital × capital
C) capital share of income × output
D) all of the above
E) none of the above
D
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The automobile emission standards in the United States are established by
a. automobile producers b. efficient free markets c. the Environmental Protection Agency (EPA) d. automobile owners because they are free to buy whatever gasoline they want e. international standards designed by the United Nations
If commercial banks are maintaining a 4 percent reserve/deposit ratio and the Fed raises the required reserve ratio to 6 percent, then banks will ________ their loans based on current deposits, and the money supply will ________.
A. decrease; decrease B. increase; increase C. decrease; increase D. increase; decrease