A default rule:
A. is a consequence that users of commitment devices agree to if they fail to follow through with their commitment.
B. defines what will automatically occur if someone fails to make an active decision otherwise.
C. is a defined limit used to mark when someone is decidedly not making a good decision.
D. is the defined strength of a given commitment needed to get an individual to follow through with the commitment.
B. defines what will automatically occur if someone fails to make an active decision otherwise.
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Total cost includes
A) the cost of variable resources only. B) the cost of fixed resources only. C) the cost of both variable and fixed resources. D) the cost of neither variable nor fixed resources. E) all explicit costs and all the implicit costs that actually must be paid using money.
The steps in the transmission of monetary policy are
A) Congress increases government expenditures on goods and services, leading to an increase in aggregate demand. B) Congress increases the money supply, which lowers the interest rate, and leads to an increase in aggregate demand. C) the Federal Reserve increases government expenditures on goods and services, leading to an increase in aggregate demand. D) the Federal Reserve lowers the federal funds rate, which lowers the real interest rate and leads to an increase in aggregate demand. E) Congress increases the budget deficit, which increases the money supply, which increases aggregate supply.
Large amusement parks charge entrance fees rather than fee per ride because
a. Customers are more sensitive to paying a fee per ride b. Customers are less sensitive to paying a fee per ride c. Customers view paying per ride as a smaller cost d. None of the above
Country A's overall balance in the balance of payments is equal to:
a. The current account minus the financial account. b. The reserves account minus the current account. c. The reserves account plus the capital account plus the current account. d. And carries the opposite sign of the reserves account. e. The reserves account plus the financial account.