The goal of utility maximization is to allocate your ________ in order to maximize your ________.
A. utility; spending
B. resources; satisfaction
C. resources; desires
D. time; work
Answer: B
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Essential goods give rise to corner solutions.
Answer the following statement true (T) or false (F)
If MPC = 0.8, a $200 billion increase in government purchases would have what size effect on the "first round" of induced added consumption?
a. $80 billion b. $160 billion c. $200 billion d. $800 billion
According to "Where Do Start-Ups Get Their Money?" venture capital is not an option for most entrepreneurs. Where does the majority of funding come from for start-ups?
A. Second mortgages on personal homes. B. Bank business loans. C. Personal savings. D. Business and personal credit cards.
If real salaries decrease but norminal salaries do not this means that
A) the purchasing power of money has decreased. B) prices have not changed. C) prices have risen. D) prices have fallen.