Scientists prefer to advance irrefutable theories, rather than refutable theories
Indicate whether the statement is true or false
False
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When the level of the stock market is high, investment spending tends to be high, ceteris paribus
Indicate whether the statement is true or false
You hear that the price of gasoline will fall 20 cents overnight. This will tend to
A) increase your demand today. B) decrease your demand tomorrow. C) increase your demand tomorrow. D) leave your demand unchanged both today and tomorrow, especially if it is highly elastic to changes in prices.
If the marginal utility of each good a consumer buys does not diminish but remains constant, we should see consumers
a. buying no goods at all b. spending all of their income on the good with the highest marginal utility c. buying one unit of each good d. buying only the least expensive good e. leaving the store in total confusion
Adverse selection and moral hazard are two different terms that mean essentially the same thing.
Answer the following statement true (T) or false (F)