Strictly speaking, which has a cost?
A) A decision
B) A cup
C) A cup of diamonds
D) A gallon of water
E) Checking accounts that charge fees for deposits below $100
A
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In the long run, an increase in government spending, other things equal, generates
A) a higher real GDP in the long run. B) a lower real GDP in the short run. C) a higher price level. D) both a higher real GDP and a lower price level.
Since 1935, the proportion of income received by the top 5 percent of Americans has: a. increased substantially. b. increased minimally
c. decreased minimally. d. decreased substantially.
The rate at which a consumer is willing to substitute one good for another, while still maintaining a given level of satisfaction, is called the
A. budget constraint. B. average rate of substitution. C. marginal rate of substitution. D. market rate of substitution.
Which of the following will shift the consumption function upward?
What will be an ideal response?