The Cost-Benefit Principle predicts that:
A. no one will perform volunteer services.
B. benefits are more important than costs in making a decision.
C. people will tend to do more of something when its benefits are greater.
D. people will always take the highest-paying job they are offered.
Answer: C
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Explain what a cartel is and the difficulties faced in maintaining a cartel
What will be an ideal response?
If Melanie had $200,000 of income and spent $180,000 on consumption in 2010 and had $300,000 of income and spent $240,000 on consumption in 2011: a. her APC in 2010 was 0.8. b. her APC in 2011 was 0.9. c. her MPC was 0.6
d. her MPC was 0.8.
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Fill in the blank(s) with correct word
As the housing bubble collapsed, the combination of increasing interest rates and pessimism about future economic prospects:
A. increased both consumption and investment spending. B. decreased both consumption and investment spending. C. increased consumption and decreased investment spending. D. decreased consumption and increased investment spending.