Intertemporal decisions involve economic decisions
A) made within a given period of time.
B) made in between two periods of time.
C) involving trade-offs across periods of time.
D) that ignore concerns about the future.
C
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Facing stiff competition, Hendrix College, a small liberal arts institution in Conway, Ark
, decided two years ago to bolster its academic offerings, promising students at least three hands-on experiences outside the classroom, including research, internships and service projects. Although it raised tuition and fees by 29 percent, enrollment in the freshman class rose by 37 percent. Source: Jonathan D. Glater and Alan Finder, "In New Twist on Tuition Game, Popularity Rises With the Price," New York Times, December 12, 2006 Based on the information above, the demand for Hendrix College education is A) relatively elastic. B) unit elastic. C) perfectly elastic. D) More information is needed to answer the question.
Suppose that in a given country in a given year, GNP equals $2,000, investment expenditures equal $200, government expenditures equal $150, and the current account surplus equals $50. Consumption expenditures therefore equal
A) $1,000. B) $1,200. C) $1,400. D) $1,600.
The first English colonies in North America were established by:
a. Sir Humphrey Gilbert. b. Christopher Columbus. c. Capt. John Smith. d. Sir Walter Raleigh.
According to the law of diminishing returns,
a. Some productions factors are fixed b. All inputs are variable c. All inputs are fixed d. None of the above