Total utility can be objectively measured in numbers that indicate usefulness or benefit to the consumer
a. True
b. False
Indicate whether the statement is true or false
False
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According to the Keynesian approach, a decrease in taxes
A) will decrease consumption, as the government will have to spend less. B) will not impact consumption, as most consumption is autonomous. C) will increase consumption exactly by the amount of the taxes. D) will increase consumption by an amount of less than the change in taxes.
Which of the following statements is true?
A) The slope of the labor supply curve depends only on the income effect of a wage rate change. B) The income effect and the substitution effect of a wage rate change work in the same direction. C) The income effect and the substitution effect of a wage rate change work in opposite directions. D) The slope of the labor supply curve depends only on the substitution effect of a wage rate change.
Demand deposits are: a. accounts in which one cannot write a check directly but from which the individual can easily withdraw money. b. the coins and bills that circulate in an economy
c. purchased from a bank or financial company, signed, and then redeemed with an additional signature when one wants to spend them. d. deposits in banks that are available upon making a cash withdrawal or writing a check.
Which of these is not a result of sugar quotas imposed by the United States?
A. Domestic sugar prices decreased. B. U.S. sugarcane and beet farmers have benefitted. C. Some U.S. soda and candy producers have moved their plants outside of the United States. D. The number of lost domestic jobs in sugar-dependent industries is greater than those saved in the sugar industry.