Which of the following utility functions has the same MRS as U(q1,q2 ) = q1 q2?
A) q11/2 q21/2
B) q1 + q2
C) q11/2 + q21/2
D) (q11/2 + q11/2 )2
A
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In the consumption function, suppose a = 60, c = 0.75, Y = 3000, and T = 800. Consumption expenditure is
A) 2910. B) 2245. C) 1710. D) 1590. E) 1510.
In the United States, which of the following is an example of a government-inhibited good?
A) museums B) concerts C) cigarettes D) sports stadiums
If aggregate quantity demanded exceeds aggregate quantity supplied, we can expect an unplanned
a. depletion of inventories, causing firms to raise prices. b. depletion of inventories, causing firms to lower prices. c. accumulation of inventories, causing firms to raise prices. d. accumulation of inventories, causing firms to lower prices.
Systemic risks are most likely to exist with regard to
a. small governments. b. large governments. c. small financial institutions. d. large financial institutions.