A rightward shift in the intertemporal budget line would be caused by ________
A) an increase in future income and wealth
B) an increase in future income and a decrease in wealth
C) a decrease in future income and an increase in wealth
D) a decrease in future income and wealth
A
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Which approach to measuring money focuses on the value of currency, transaction deposits, and travelers checks?
A) near moneys B) the liquidity approach C) M2 D) the transactions approach
When studying the market for resources, it is important to understand that:
a. resources are wanted not for themselves, but for what they produce. b. demand for resources is generally inelastic in nature. c. derived demand does not apply to the resource market. d. resource markets do not conform to the laws of supply and demand as other markets do. e. supply is much more important than demand in determining the price of a resource.
If a price ceiling is not binding, then
a. the equilibrium price is above the price ceiling. b. the equilibrium price is below the price ceiling. c. it has no legal enforcement mechanism. d. None of the above is correct because all price ceilings must be binding.
Market incentives do not play a role in pollution behavior.
Answer the following statement true (T) or false (F)