The path of consumption over a lifetime is likely to be ________ the path of income.
A. completely unrelated to
B. much less stable than
C. about the same as
D. much more stable than
Answer: D
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Which of the following statements is true?
A) In the United States, the unemployment rate among bachelor degree holders is more than the unemployment rate among high school diploma holders. B) Unemployment rate is higher among groups with lower educational attainment. C) More educated workers have a lower opportunity cost of time than less educated workers. D) The unemployment rate in a country normally increases when the country's economy expands.
The resolution of Adam Smith’s diamond-water puzzle is based on the distinction between marginal and total utility.
Answer the following statement true (T) or false (F)
If Thelma's willingness to sell her homemade fudge is $4, then at which of the following prices would Thelma sell her fudge?
A. $2 B. $3.99 C. $4.01 D. Thelma would not sell her fudge at any of these prices.
Which of the following is true under monopolistic competition in the long run?
A. P = MC. B. P = MR. C. Profits are always zero. D. All of the choices are true in monopolistic competition.