Economic analysis indicates that
A) no matter what our objectives in life, they are easier to achieve if we have more wealth.
B) the desire for more wealth is limited to those who are interested only in their personal welfare.
C) wealthy people are happier than those with lots of friends, satisfying marriages, and strong religious convictions.
D) single-minded pursuit of money and wealth is the key to happiness.
A) no matter what our objectives in life, they are easier to achieve if we have more wealth.
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Which of the following would not be studied by macroeconomists?
A. The effects of tax cuts on consumer spending. B. Factors affecting average wages in the U.S. economy. C. Inflation in developing countries. D. The worldwide operations of General Motors
If the cross-price elasticity of demand between two goods is negative, then
a. the two goods are complements b. the two goods are substitutes c. as price of one good rises, the quantity demanded of the other good also rises d. one of the goods must be inferior e. the two goods are rarely used together by consumers
Investment A pays $1,200 half of the time and $800 half of the time. Investment B pays $1,400 half of the time and $600 half of the time. Which of the following statements is correct?
A. Investment B has a higher expected value than A, but also greater risk. B. Investment A has a greater expected value than B, but B has less risk. C. Investment A and B have the same expected value, but A has greater risk. D. None of the statements are correct
Often single-owner proprietorships seem more profitable than they really are. The reason for this is that
A. they are not allowed to deduct depreciation expense. B. they often fail to consider the opportunity cost of the labor provided by the owner. C. they receive special tax benefits compared to corporations. D. they use different accounting procedures.