Private goods are characterized by two important attributes. What are they?
A. Marginality and depletability
B. Scalability and desirability
C. Repeatability and reliability
D. Depletability and excludability
Answer: D
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Economists typically assume that the owners of firms wish to
A) produce efficiently. B) maximize sales revenues. C) maximize profits. D) All of the above.
Why is the paradox of thrift considered to be a paradox? Because an increase in saving causes
a. consumption to fall, causing the equilibrium level of national income to fall, thus leaving saving unchanged or even lower b. consumption to also rise, causing the equilibrium level of national income to rise, resulting in higher than anticipated saving c. investment to also rise, causing the equilibrium level of national income to rise,resulting in higher than anticipated saving d. investment to fall, causing the equilibrium level of national income to fall, thus leaving saving unchanged e. consumption to fall, causing the equilibrium level of national income to rise, resulting in higher than anticipated saving
What does "random walk" mean? According to the efficient markets hypothesis, should stock prices follow a random walk?
In Econland exports equal 15 percent of total output, while imports equal 20 percent of total output. Econland has a:
A. trade surplus. B. trade deficit. C. budget surplus. D. budget deficit.