It is difficult to engage in long-term financial planning when inflation is:
A. high and erratic.
B. low and stable.
C. predictable.
D. accounted for through indexing.
Answer: A
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John Maynard Keynes argued that if many households decide at the same time to increase saving and reduce spending,
a. this may benefit the economy in the short run, but not in the long run. b. the economy will benefit in the short run and benefit by an even greater amount in the long run. c. this will have a major negative impact on the economy in both the short run and in the long run. d. this may benefit the economy in the long run, but could be counterproductive in the short run.
One example of human capital is the amount of savings that you have
Indicate whether the statement is true or false
The earliest unions in the United States were
A) industrial unions. B) craft unions. C) public-sector unions. D) military unions.
For an individual who consumes only two goods, X and Y, the opportunity cost of consuming one unit of X in terms of how much Y must be given up is reflected in
a. the individual's marginal rate of substitution. b. the slope of the individual's budget constraint. c. the slope of the individual's indifference curve. d. None of the above.