In the basic closed-economy ISLM model, the LM curve can be described by an equation where
A) output is a function of consumption.
B) money is a function of interest rates.
C) output is a function of money.
D) interest rate is a function of output.
D
Economics
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If taxpayers can enjoy mosquito abatement whether or not they pay for it and, therefore, they tend to understate their true valuation of the spraying, this is an example of
a. private goods b. the median-voter model c. an open-access good d. the free-rider problem e. irrational ignorance
Economics
Consumption is $5.5 trillion, investment is $1 trillion, government expenditures are $1.5 trillion, transfer payments are $.5 trillion, exports are $.75 trillion and imports are $1.25 trillion. What is GDP?
Economics