The British economist most often associated with the issue of economic rent for land was
A. John Maynard Keynes.
B. A. W. Phillips.
C. David Ricardo.
D. Adam Smith.
Answer: C
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In the permanent income hypothesis, income that does not persist for a long period of time is known as ________
A) current income B) transitory income C) insufficient income D) limited income
Another name for diversifiable risk is
A) systematic risk. B) nonsystematic risk. C) nominal risk. D) portfolio risk. E) meta-portfolio risk.
Daniel enjoys both soda and pizza, allocating his purchases across these two goods so that his utility is maximized. If Daniel receives one-third as much utility from the last can of soda as from the last slice of pizza, we can say that:
a. the price of pizza is one-third that of soda. b. the price of pizza is equal to that of soda c. the price of pizza is twice that of soda. d. the price of pizza is three times that of soda.
The antitrust laws are enforced by government agencies such as the Federal Trade Commission and the Department of Justice
a. True b. False Indicate whether the statement is true or false