Which of the following statements is most correct?
A. Money is a means of payment but is not part of wealth.
B. Money is wealth but not all wealth is money.
C. In order to be considered part of a person's wealth, an asset must have a positive return.
D. Wealth is a store of value and a means of payment.
Answer: B
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At the point at which planned real consumption spending is equal to real disposable income
A) the consumption function is above the 45-degree line. B) the consumption function intersects the savings function. C) the consumption function intersects the 45-degree line. D) the consumption function is below the 45-degree line.
In empirical analyses of factors that help explain wages,
a. effort and ability are not likely to contribute to large differences in wages in the U.S. economy. b. economists typically find that measurable factors explain less than half of the variation in wages. c. economists typically find few factors that are not explicitly measurable. d. unmeasurable influences on wage differences are found to be quite small.
Advertising most likely has the strongest effect on changes in ______.
a. income b. taste c. inferior goods d. complements
What is meant by a dominant strategy?
What will be an ideal response?