John and Sally have identical preferences except that Sally's utility is exactly 10 times John's for each basket of goods. If they have the same income and face the same prices
A) Sally will consume 10 times the amount that John consumes.
B) Sally will receive 1/10 the satisfaction of John.
C) both will consume the same amount of all goods.
D) John and Sally will have equal total utility.
C
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Rational ignorance suggests that voters may not spend much time examining candidates before an election because
a. politics is boring b. each voter has virtually no chance of deciding the election c. public choices are not important to society d. candidates are chosen by the electoral college e. candidates are usually so different that it is easy to determine which is better
According to the Census Bureau,
a. a greater percentage of families are below the poverty level now than in 1960 b. a smaller percentage of families are below the poverty level now than in 1960 c. the same percentage of families are below the poverty level now as in 1960 d. the percentage of families below the poverty level has fallen dramatically since 1970 e. 30 percent of families are below the poverty level
If the Federal Open Market Committee decides to decrease the money supply, it will
a. sell government bonds. b. purchase corporate bonds. c. purchase government bonds. d. reduce interest rates.
If a general partnership fails, who is responsible for the debts?
a. anyone who works for the partnership b. all the partners c. only the most senior general partner d. no one