The recession of 2008-2009 was associated with a fall in housing prices which shifted aggregate demand to the left
a. True
b. False
Indicate whether the statement is true or false
True
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A utility-maximizing consumer always purchases a good that yields the greatest average utility per dollar of expenditure
a. True b. False Indicate whether the statement is true or false
Marginal-cost pricing, which is used to regulate a natural monopoly, leads to zero economic profit
a. True b. False Indicate whether the statement is true or false
The maximum price that a buyer will pay for a good is called
a. consumer surplus. b. willingness to pay. c. equilibrium. d. efficiency.
Which of the following statements is correct?
a. The human-capital theory of education could be called a productivity-enhancing theory. b. The human-capital theory of education could be called a productivity-revealing theory. c. The signaling theory of education could be called a productivity-enhancing theory. d. The signaling theory of education has been disproven by a number of prominent economists.