As a generalization, it can be said that
a. aggregate demand shifts to the right every year, but aggregate supply rarely does.
b. aggregate supply shifts to the right every year, but aggregate demand rarely does.
c. both aggregate demand and aggregate supply shift to the right each year.
d. neither aggregate demand nor aggregate supply curve shifts to the right each year.
c
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In general, microeconomic theory assumes that firms attempt to maximize the difference between
a. total revenue and accounting costs. b. price and marginal cost. c. total revenues and economic costs. d. economic costs and average cost.
Income tax payments
a. rise during a recession, thus reducing the severity of the recession b. rise during a recession, thus increasing the severity of the recession c. rise during inflationary episodes, thus reducing the severity of the inflation d. fall during inflationary episodes, thus increasing the severity of the inflation e. fall during a recession, thus increasing the severity of the recession
Equity investors can choose to participate indirectly in real estate markets by purchasing shares in publicly traded real estate companies. In doing so, investors benefit from all of the following EXCEPT:
A. Low transaction costs B. Risk sharing amongst investors C. Highly segmented markets D. High information efficiency
In general, people are willing to pay more than the expected value of insurance because:
A. most people would have trouble finding enough money to cover their losses. B. they are risk-averse. C. it allows them to afford major expenses from catastrophes without going bankrupt. D. All of these statements are true.