Which of the following represents a change in the quantity demanded?
A. People buy more computers because of a surge in the economy.
B. People buy more computers due to a change in income.
C. People buy more computers as prices fall.
D. People buy more computers due to a change in tastes.
Answer: C
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Because S&Ls were FSLIC insured, they
a. were less encouraged to make risky investments b. were less likely to make questionable loans c. could not venture into speculative land deals d. were less inclined to be cautious about the quality of the loans they made e. were safer than with the FDIC
The cost disease of personal services occurs when labor productivity in the general economy is
A. decreasing. B. increasing. C. increasing faster than in personal services. D. increasing slower than in personal services.
Charlie's income went from $1000 per week to $1500 per week. As a result he increased his consumption of beef from 1 pound a week to 3 pounds a week. Based on his consumption patterns, the income elasticity of beef for Charlie is
A) 2.50. B) -.50. C) .50. D) -1.50.
Risk aversion:
A. is an aspect of an individual's preferences. B. is the same for everyone. C. is an unusual type of preference. D. All of these statements are true.