Savings is considered the portion of income:
A. in any interest-bearing account.
B. that is placed in an individual's savings account.
C. that is not immediately spent on consumption of goods and services.
D. that is spent on productive inputs, such as factories, machinery, and inventories.
Answer: C
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Jane spends 85% of her income each year, even though she knows she should be saving 20% for retirement. Jane's behavior indicates that her behavior tends to be
a. irrational. b. inconsistent over time. c. satisficing rather than maximizing. d. undefined.
GoodPrice Increase Last YearAmusement park tickets5.0%Bowling balls4.2%Camouflage neckties3.1% Refer to Table 8.1, which gives hypothetical data on price changes for three goods. If the overall rate of inflation in the economy was 3.5%, which good(s) experienced a relative price increase?
A. Amusement park tickets only B. Amusement park tickets and bowling balls C. All three goods experienced relative price increases D. Camouflage neckties only
Shadow prices:
A. are paid in terms of opportunity costs. B. are set by the government. C. exist only in black markets. D. are illegal.
ISI policies were brought to an end primarily by
A) their inability to solve the crises of the 1980s. B) authoritarian governments interested in total control over the economy. C) populist politicians. D) protests by consumers.