In the United States in 2015, government purchases of goods and services were
a. larger than consumption, but smaller than investment.
b. larger than investment, but smaller than consumption.
c. smaller than both consumption and investment.
d. larger than both consumption and investment.
b
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A customer at an auction who obtains an antique chair by outbidding several other prospective purchasers
A) may be paying more than the opportunity cost of obtaining the chair. B) pays a price other than opportunity cost. C) pays more than its real cost of his bid exceeds the original cost of the chair plus the cost of running the auction. D) pays the opportunity cost of the last disappointed bidder.
Suppose Joe is maximizing total utility within his budget constraint
If the price of the last pair of jeans purchased is $25 and it yields 100 units of extra satisfaction and the price of the last shirt purchased is $20, then, using the rule of equal marginal utility per dollar spent, the extra satisfaction received from the last shirt must be A) 2,000 units of utility. B) 500 units of utility. C) 100 units of utility. D) 80 units of utility.
What are the key ingredients of Taiwan's successful entry into world markets? What lessons can other developing countries draw from Taiwan's experience with global markets?
What will be an ideal response?
Which of the following is not an automatic stabilizer:
a. Business profits taxes. b. Welfare payments. c. Government spending for new bridges and roads. d. All of the above are examples of automatic stabilizers.