All of the following are examples of a nondurable good except
a. a pencil.
b. one gallon of gasoline.
c. a queen-size bed.
d. a pair of shoes.
c
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Refer to Figure 18.3. After trade and specialization begin, the maximum amount of scooters that Livonia can consume is
A) 120. B) 100. C) 80. D) 40.
What is a dominant strategy?
What will be an ideal response?
In the permanent-income hypothesis incorporating rational expectations, the actual cyclical pattern of consumption in the United States is too ________ to justify the assumption that a current change in income ________
A) smooth, is a poor guide to future income changes B) volatile, is a poor guide to future income changes C) smooth, leads to a gradual change in permanent income D) volatile, leads to a gradual change in permanent income
In an economy, U = the number of adults who are unemployed, E = the number of adults who are employed, and NLF = the number of adults not in the labor force. The unemployment rate of the economy is equal to: a. U/(E + NLF)
b. U/E. c. U/(U + E). d. U/(E + NLF). e. U/(U + E ? NLF).