The analysis of consumer decision making based on utility maximization is known as
A. consumption analysis.
B. specialization analysis.
C. market analysis.
D. utility analysis.
Answer: D
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Expansionary policies are policies designed to
A) reduce the level of real GDP. B) increase the level of real GDP. C) reduce the federal deficit. D) decrease government spending.
Which of the following is a feature of a perfectly competitive market?
A) There is only one seller of a commodity. B) The government rations commodities. C) Commodities are auctioned to the highest bidder. D) Each seller is too small to influence the market price.
If the demand for money decreases, but the Fed keeps the money supply the same:
a. nominal interest rates will rise and aggregate demand will fall. b. nominal interest rates will rise and aggregate demand will rise. c. nominal interest rates will fall and aggregate demand will fall. d. nominal interest rates will fall and aggregate demand will rise.
The equation M × V = P × Y is called the
a. multiplier formula. b. transactions formula. c. equation of exchange. d. balanced exchange formula.