Differentiate between the two types of altruism
What will be an ideal response?
There are two types of altruism—pure and impure. Pure altruism motivates charitable giving because individuals value helping others. Impure altruism motivates charitable giving because of selfish reasons, such as the appearance of generosity.
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The greater the marginal propensity to consume, the
A) flatter the IS curve will be. B) steeper the IS curve will be. C) flatter the LM curve will be. D) steeper the LM curve will be.
The theory of consumer choice
a. underlies the concept of the demand for a particular good.
b. underlies the concept of the supply of a particular good.
c. ignores, for the sake of simplicity, the trade-offs that consumers face.
d. can be applied to many questions about household decisions, but it cannot be applied to questions concerning wages and labor supply.
How do firms raise external funds through indirect finance?
What will be an ideal response?
At the point where the marginal revenue equals zero for a monopolist facing a straight-line demand curve, total revenue is:
a. greater than 1. b. maximum. c. less than 1. d. equal to zero.