Question

As far as possible, assign the following terms to the definitions and descriptions below. To do this, enter the corresponding letter in the table to the left of the term. If no definition matches the term, please enter "-".

Definitions and descriptions:
A.   Term for a quantity expressed in terms of a point in time (e.g. capital stock).
B. Increases net welfare in the presence of negative external effects.
C.       Selling price minus costs of a good.
D.       Difference between production potential and actual output.
E.       What you have to give up to get something else.
F.       Geometric location of all combinations of goods that can be obtained through specialisation and trade.
G.       Budget deficit adjusted for cyclical fluctuations.
H.       Examples are notary and lawyer fees and translation costs.
I.       Claim that under certain conditions private actors can solve the externalities problem among themselves.
J. Geometric location of all combinations of goods that can be produced when resources are fully utilised.
K.       Opportunity costs of a producer in the production of a certain good.
L.       Developed the principle of comparative advantage.
M.       Productivity cost advantage of a producer in the production of a given good.
N.       Goods that have no exclusive or competing uses.
O.       Term for a variable that is measured over time (e.g. net capital formation).
P.       Analysed the advantages of division of labour and trade in his 1776 work.
Q.       Macroeconomic mechanisms, in particular through the tax system and unemployment insurance, that ensure that demand shocks have only a moderating effect on the equilibrium income.

	Public Goods		Multiplicator		Excessive deficit
	Producer surplus		Stock size		Consumption Opportunity Curve
	Transaction costs		Absolute advantage		Opportunity costs
	Pigou Tax		Output gap		Production capability curve
	Coase theorem		Automatic stabilizers		Comparative advantage
	David Ricardo		Adam Smith		Structural deficit

Answer 1

A.   Term for a quantity expressed in terms of a point in time (e.g. capital stock).- Stock size
B. Increases net welfare in the presence of negative external effects.- Pigou Tax
C.       Selling price minus costs of a good.- Producer surplus
D.       Difference between production potential and actual output.-Output gap
E.       What you have to give up to get something else.-Opportunity costs
F.       Geometric location of all combinations of goods that can be obtained through specialisation and trade.-Consumption Opportunity Curve
G.       Budget deficit adjusted for cyclical fluctuations.-Structural deficit
H.       Examples are notary and lawyer fees and translation costs.- Transaction costs
I.       Claim that under certain conditions private actors can solve the externalities problem among themselves.-Coase theorem
J. Geometric location of all combinations of goods that can be produced when resources are fully utilised.- Production capability curve
K.       Opportunity costs of a producer in the production of a certain good.- none
L.       Developed the principle of comparative advantage.- David Ricardo
M.       Productivity cost advantage of a producer in the production of a given good.-Comparative advantage
N.       Goods that have no exclusive or competing uses.-Public Goods
O.       Term for a variable that is measured over time (e.g. net capital formation).- none
P.       Analysed the advantages of division of labour and trade in his 1776 work.- Adam Smith
Q.       Macroeconomic mechanisms, in particular through the tax system and unemployment insurance, that ensure that demand shocks have only a moderating effect on the equilibrium income.- Automatic stabilizers

The terms Multiplicator, Absolute Advantage and Excessive Deficit do not match with any description.