What is the term for a measure of happiness or satisfaction a person receives from his or her circumstances?
utility
You might also like to view...
A telephone company that charges both a monthly fee plus a price per minute used are employing:
A. price discrimination based on observable customer characteristics. B. perfect price discrimination. C. a two-part tariff. D. the profit-maximizing rule.
In the IS-LM model, if interest rates fall while output falls the
a. money supply must have fallen. b. price level must have fallen. c. money supply must have risen. d. level of government spending must have risen. e. none of the above.
A flat tax:
A. takes the same percentage of taxes from income from all taxpayers. B. requires those with low incomes to pay a smaller percentage of their income than high-income people. C. is levied so that low-income taxpayers pay a greater proportion of their income toward taxes than high-income taxpayers. D. taxes everyone the same amount, regardless of their income.
When considering policy, measures of access to credit can often be:
A. unimportant to the economy. B. as important as the measure of money. C. included in the measures of money. D. measures of individual assets.