Refer to the scenario above. The housekeeper's behavior is an example of a ________
A) moral hazard
B) positive externality
C) prisoners' dilemma
D) tragedy of the commons
A
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Consumers seek to
A) maximize profits. B) maximize expected consumer surplus. C) maximize expenditures. D) maximize choice.
A tariff:
A. is a tax on imports. B. is a tax on exports. C. directly limits the total quantity of a good that can be imported. D. directly limits the total quantity of a good that can be exported.
Suppose that John allocates $10,000 of his disposable income for necessities. Any additional income beyond that is both spent and saved. Assume he has a disposable annual income of $50,000 and an MPC=0.8. Based on this information the additional amount spent on non-necessities should be:
A. $10,000. B. $40,000. C. $32,000. D. $35,000.
The sum of the number of employed people and the number of unemployed people equals the labor force of a country
a. True b. False Indicate whether the statement is true or false