What is TRUE when the credit market is in equilibrium?
A) The legal minimum wage equals the actual wage.
B) Desired saving equals desired investment.
C) Desired employment equals the number of jobs available.
D) Desired consumption spending equals the total of saving plus investment.
Answer: B) Desired saving equals desired investment.
Economics
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When the benefits of producing a good or service spill over to other people, rather than just the buyer, the spillover is referred to as
A) an external benefit. B) an external cost. C) a marginal cost. D) an equilibrium social output. E) a Coasian good.
Economics
Dividing the value of real GDP by aggregate labor hours gives
A) the net domestic product. B) labor productivity. C) the size of the labor force. D) the rate of capital accumulation.
Economics