Saving is motivated by private property rights because
A. people can wait for others to work hard and then try to take it.
B. without those rights, consumers would be compelled to immediately consume them, whether or not they feared their savings would be taken.
C. people must consume the proceeds of their hard work immediately.
D. people need neither immediately consume nor spend energy protecting the proceeds from their hard work.
Answer: D
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Larry's Lathe-makers Limited produces lathes, which are purchased by furniture manufacturers all over the world. The standard lathe depreciates over a twenty-five-year period. In the national income accounts, the lathes are classified as
A) inventory. B) raw materials. C) capital goods. D) intermediate goods.
When actions are finely divisible, the marginal benefit of action X is equal to:
A. the slope of a line that is tangent to the total benefit curve at X. B. the slope of a line from the origin to a point on the total benefit curve at X. C. the marginal cost of X. D. the inverse of the slope of the total benefit curve at point X.
Which of the following is a limitation of the aggregate expenditure model?
a. It always assumes changes in price level create changes in autonomous consumption. b. It always assumes the economy is at equilibrium. c. It does not allow for changes in aggregate demand. d. It does not allow for the economy to self-correct.
Demand-pull inflation could start with
What will be an ideal response?