If you intend to begin jogging one week from today, and next week tell yourself you'll begin in another week, your preferences are:
A. more accurate in the future.
B. revealed from your actions.
C. time inconsistent.
D. irrational.
Answer: C
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As the workforce ages,
A) structural and frictional unemployment increase. B) cyclical unemployment declines. C) cyclical unemployment increases. D) the natural rate of unemployment declines.
Assume that Matt, Joe, and Teresa are the only citizens in a community. A proposed public good has a total cost of $1,000. All three citizens will share an equal portion of this cost in taxes. The benefit of the public good is $ 380 for Matt, $ 360 for Joe, and $ 200 for Teresa. In a majority vote, this proposal will most likely be
What will be an ideal response?
The price elasticity of demand measures
A) changes in demand. B) how responsive market prices are to a change in demand. C) how responsive consumers are to a change in price. D) how responsive consumers are to a change in income.
When the economy is in long-run equilibrium, the price level adjusts so as to equate which two values with one another?
A. government spending and tax revenues B. total planned real expenditures and total planned production C. import and export spending D. the inflation rate and the unemployment rate