The life-cycle hypothesis applies the concept of ________ to retirement
A) income & substitution effects
B) transitory income
C) autonomous consumption
D) consumption smoothing
D
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Mike is a college student who works part time and earns $100 per week. He spends his entire income on two goods: pepperoni pizzas and bottles of soda. The price of a pepperoni pizza is $10 and the price of a bottle of soda is $2
What is the opportunity cost of a pepperoni pizza? What is the opportunity cost of a bottle of soda?
If Bob in Texas buys bonbons made in France for $25, and the French chocolatier buys stock in IBM for $25, then the French net exports:
A. and net capital outflow are both zero. B. and net capital outflow both equal $25. C. is zero and net capital outflow is $25. D. equals $25 and net capital outflow is zero.
The practice of a group of firms negotiating a uniform price and fixing agreed-upon market share in order to limit competition is
a. legal in all states but illegal in Washington, D.C. b. called conglomerate behavior c. seldom successful because entry into the industry cannot be denied d. called collusion e. less profitable for each firm than maximizing profit individually
The Friedman natural rate theory implies that there is a tradeoff between inflation and unemployment in
A) neither the short run nor the long run. B) both the short run and the long run. C) the short run, but not in the long run. D) the long run, but not in the short run.