When a consumer spends less time enjoying leisure and more time working, she has
a. lower income and therefore cannot afford more consumption.
b. lower income and therefore can afford more consumption.
c. higher income and therefore cannot afford more consumption.
d. higher income and therefore can afford more consumption.
d
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The contention that specific sensitive domestic technologies must not be traded freely is
A) a national defense concern. B) the infant industry argument. C) dumping. D) to protect domestic jobs.
Monopolistic competition is different from perfect competition in that every manufacturer
A. has a small monopoly, and differentiates the product. B. takes the product quality as given, and chooses price. C. takes output level as given, but must choose price. D. differentiates product, but cannot advertise successfully.
Tom is an organic gardener. For several years, he produced only for his own consumption, but this year he has sold his vegetables at a farmer's market. The vegetables Tom produces a. are not included in GDP, not for this year nor for previous years
b. are included in GDP for this year, but prior to this year the value of his vegetables was not included in GDP. c. would be included in GDP only if the vegetables were registered with the Department of Agriculture. d. are not part of GDP, since vegetables are not a good included in GDP.
The reserve requirement ratio is equal to
A. legal required reserves times the deposit multiplier. B. total checkable deposits times the deposit multiplier. C. total checkable deposits times the excess reserve ratio. D. legal required reserves divided by total checkable deposits.