The use of money adds to wealth because it tends to increase people's
A) options.
B) risks.
C) costs.
D) expenditures.
E) elasticity of demand.
A
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What are direct expenditure offsets and how do they influence the effects of fiscal policy?
What will be an ideal response?
"Only individual members of society earn income, not society itself." This statement is most closely associated with the political philosophy of a
a. utilitarian. b. liberal. c. libertarian. d. None of the above is correct.
One could argue that GDP is not a good measure of the standard of living in a nation because it ________.
A. excludes payments for pollution control equipment B. does not account for the size of the population C. does not account for the cost of police protection D. includes the cost of health insurance
In economics, utility is defined as
A. the usefulness of a good or service. B. the objective measure of the desirability of a good or service. C. the want-satisfying power of a good or service. D. the utilitarian value of a good or service.