A dictator is most likely to
A) adopt a Rawlsian social welfare function.
B) maximize her own utility.
C) place equal weight on everyone's utility function.
D) have nontransitive preferences.
B
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As a consumer moves along an indifference curve and decreases consumption of the good on the x-axis, the consumer needs ________ of the good on the y-axis to give up an additional unit of the good on the x-axis
A) less and less B) more and more C) none D) a constant amount
If the Fed orders a contractionary monetary policy, describe what will happen to the following variables relative to what would have happened without the policy:
a. The money supply b. Interest rates c. Investment d. Consumption e. Net Exports f. The aggregate demand curve g. Real GDP h. The price level
If we were to examine the economic record of the former Soviet Union and China during the 1980s, we could reasonably conclude that
A. China was successful and the Soviet Union was not. B. The Soviet Union was successful and China was not. C. Both the Soviet Union and China were successful. D. Neither China nor the Soviet Union were successful.
If the APC is 1.3, the APS is
A. -0.3. B. 0. C. 0.3. D. 0.7.