Utility is:
A. maximized by rational individuals.
B. revealed by observing choices an individual makes.
C. the satisfaction individuals get from different bundles of goods.
D. All of these are true.
D. All of these are true.
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A reduction in the required reserve ratio has the instant effect of:
a. Increasing the monetary base. b. Increasing excess reserves. c. Increasing bank shareholders' equity. d. Increasing bank reserves. e. All of the above are correct.
Indifference curves that cross would suggest that
a. the consumer does not prefer more to less. b. the consumer is likely to prefer a redistribution of income from rich to poor. c. different individuals have different preferences for the same goods. d. the marginal rate of substitution is the same for both indifference curves.
Refer to the information provided in Figure 23.7 below to answer the question(s) that follow.
Figure 23.7Refer to Figure 23.7. In Ichabodia, planned investment varies directly with income. Ichabodia's planned investment function is represented by
A. Panel A. B. Panel B. C. Panel C. D. Panel D.
Using the data in the above table, if net exports = -$500 billion and the government balances its budget, then
A) the private sector must balance its budget. B) savings must equal $150 billion. C) the private sector runs a surplus of $850 billion. D) saving must equal $650 billion.