Jane is trying to decide which courses to take next semester. She has narrowed down her choice to two courses, Econ 1 and Econ 2. Now she is having trouble and cannot decide which of the two courses to take
It's not that she is indifferent between the two courses, she just cannot decide. An economist would say that this is an example of preferences that: A) are not transitive.
B) are incomplete.
C) violate the assumption that more is preferred to less.
D) all of the above
B
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A lower real interest rate ________ saving and ________ consumption spending.
A. increases; increases B. does not change; does not change C. increases; decreases D. decreases; increases
Refer to Figure 4-5. Suppose that instead of a price ceiling, the government imposed a price floor of R1. What is the area representing producer surplus after the imposition of the price floor?
A) B + C + D + E + F B) A C) B + D + F D) C + E
Which statement is true?
A. Welfare payments are set by the federal government and are the same for all states. B. Only the industrial states of the northeast, Midwest, and the far west have welfare programs. C. Most people receiving welfare benefits are black. D. Each state sets its own welfare payments.
Some conservative economists want to help more teenagers to find jobs by
A. providing a government jobs program. B. raising the minimum wage rate for teenagers. C. lowering the minimum wage rate for teenagers. D. requiring every business with more than 25 employees to hire at lease one teenager for each three new employees hired.