What is the most likely consequence when people's preference for current consumption rises in relation to future consumption?
a. Interest rates will fall, and the rate of extraction of exhaustible natural resources will decrease.
b. Interest rates will fall, and the rate of extraction of exhaustible natural resources will increase.
c. Interest rates will rise, and the rate of extraction of exhaustible natural resources will decrease.
d. Interest rates will rise, and the rate of extraction of exhaustible natural resources will increase.
e. Interest rates will fall, and there will be no effect on the rate of extraction of exhaustible natural resources.
d
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For 2016, the maximum taxable income for Social Security purposes is
A. $118,500. B. $97,500. C. unlimited. D. $51,125.
________ is the study of how individuals, households, governments, and firms make choices and how those choices affect prices, the allocation of resources, and the well-being of other agents
A) Macroeconomics B) Monetary economics C) Microeconomics D) Growth theory
Increased uncertainty resulting from the global financial crisis ________ the required return on investment in equity
A) raised B) lowered C) had no impact on D) decreased
Economies of scope are said to exist when
A. one firm produces many products rather than separate firms for each. B. many firms produce many products rather than one firm producing all. C. one firm can produce multiple products at a lower cost than separate firms producing each. D. many firms produce a single product rather than one firm.