The decision to save is influenced by all of the following except
A. The level of risk.
B. Time preferences.
C. Interest rates.
D. Occupation.
Answer: D
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When considering the socially optimal amount of pollution, the benevolent social planner takes into account any laws regarding pollution
Indicate whether the statement is true or false
Higher interest rates increase both consumption and investment spending
Indicate whether the statement is true or false
A business cycle is the period of time in which:
a. expansion and contraction of economic activity are equal. b. the price level changes. c. a business is established and ceases operations. d. there are four phases which are: peak, recession, trough and recovery.
When average variable cost is rising ______.
a. the average total cost curve must be moving downward b. the point of increasing marginal utility has set in c. the average fixed cost curve crosses it at its highest point d. marginal cost must be higher than the average variable cost