The economizing problem is essentially one of deciding how to make the best use of
a. limited resources to satisfy limited wants.
b. unlimited resources to satisfy limited wants.
c. limited resources to satisfy virtually unlimited wants.
d. unlimited resources to satisfy unlimited wants.
C
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Generally with bond ratings, the ________ the rating, the higher the interest rate an investor will receive and the ________ the risk that the issuer of the bond will default
A) lower; higher B) higher; higher C) higher; lower D) lower; lower
According to Friedman's permanent income hypothesis, which of the following statements about transitory income is true?
a. It reflects the unexpected gains of income are transitory income. b. It reflects the income of people who have temporary employment. c. People's consumption depends on transitory income. d. It reflects the income of retired people. e. Habitual losses (or gains) at gambling are transitory income.
Which of the following would most likely occur if the federal government decreased its spending and reduced the size of the budget deficit during a period of full employment?
A. The rate of inflation would decline. B. The rate of inflation would rise. C. A recession would develop. D. Interest rates would fall.
When you derive the average product of labor curve, you use
A. the slope of the ray out of the origin to the production function. B. the vertical distance from the production function to the horizontal axis. C. the slope of the production function. D. the horizontal distance from the production function to the vertical axis.