At the household level, higher saving rates lead to ________ and greater economic security.
A. greater wealth
B. less current income
C. greater current consumption
D. less wealth
Answer: A
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What is one reason activists might lobby the government to force firms to produce more output than they normally would in a perfectly competitive market?
A) They value consumer surplus more than producer surplus. B) They value producer surplus more than consumer surplus. C) They seek to avoid future regulation. D) They seek to minimize total surplus.
The 2008 financial crisis was caused by the decline of real estate values as well as several other factors
a. True b. False Indicate whether the statement is true or false
The graph that relates hours of labor input to output is called the
A. consumption function. B. conjunction function. C. capital function. D. production function.
What are the key characteristics of a public good?
What will be an ideal response?