Purposeful behavior means that:
A. people are selfish in their decision making.
B. people weigh costs and benefits to make decisions.
C. people are immune from emotions affecting their decisions.
D. decision makers do not make mistakes when weighing costs and benefits.
Answer: B
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The Fed is concerned that inflation might occur. To help eliminate this possibility, the Fed could ________ government securities to ________ the federal funds rate in the short run
A) buy; raise B) sell; not change C) sell; lower D) buy; lower E) sell; raise
If Intel moves first and makes a large investment in a chip fabrication plant in Bolivia in exchange for tax credits, Intel has made ________ and Bolivia ________
A) a tactical error; will nationalize the plant B) a specific investment; will create the tax credit C) a specific investment; has a hostage D) a general investment; no longer has to grant the tax credits
The greater the interest rate
A) the greater the present value of a sum to be received a year in the future. B) the greater the opportunity cost of another dollar of current consumption. C) the more a dollar invested today will be worth a year from now. D) the lower the discount rate.
How did the entry of women and baby boomers into the U.S. labor force during the 1960s affect the nation’s short-run aggregate supply (SRAS) curve and long-run aggregate supply (LRAS) curve?
a. The SRAS curve and LRAS curve both shifted to the left. b. The SRAS curve shifted rightward, and the LRAS curve shifted leftward. c. The SRAS curve shifted leftward, and the LRAS curve shifted rightward. d. The SRAS curve and LRAS curve both shifted to the right.