Leisure is
a. not subject to the law of diminishing utility because you can never have enough leisure time
b. not subject to the law of diminishing utility because you can derive utility only from goods and services
c. subject to the law of diminishing utility, just as the consumption of goods and services is
d. subject to the law of diminishing utility only if it involves the consumption of goods and services
e. not considered in maximizing utility
C
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The opportunity cost of a decision is measured in terms of
A) the next best thing given u
Walmart wants to raise $250 million to finance the renovation of their retail stores, and the company wishes to raise the funds through indirect finance. Which of the following methods could it use?
A) It could sell $250 million in bonds. B) It could issue $250 million in stock. C) It could borrow $250 million from a bank. D) It could choose either A or B.
If the government wishes to increase its spending on goods and services by $10 billion without increasing the overall level of aggregate demand, it should
a. increase taxes by $10 billion. b. decrease taxes by $10 billion. c. increase taxes by more than $10 billion. d. increase taxes, but by less than $10 billion. e. leave tax receipts unchanged.
Data on the U.S. income distribution suggest that
a. black-white income differentials have decreased b. black-white income differentials have increased c. the distribution of income among blacks is more uneven than the overall distribution of income d. the distribution of income among blacks is less uneven than the overall distribution of income e. the distribution of income among blacks follows approximately the same pattern as the overall distribution of income