In moving along a given budget line:
A. the prices of both products and money income are assumed to be constant.
B. each point on the line will be equally satisfactory to consumers.
C. money income varies, but the prices of the two goods are constant.
D. the prices of both products are assumed to vary, but money income is constant.
Answer: A
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A) positive economics. B) normative economics. C) command economics. D) implicit economics.
Which of the following is a hybrid of a checking and savings account?
A) CD B) negotiable CD C) passbook accounts D) money market deposit account
Suppose a lottery ticket costs $1and has a jackpot of $1 million. What must the probability of winning nothing be if the bet is fair?
a. 99% b. 99.9% c. 99.999% d. 99.9999%
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a. the natural rate of unemployment. b. full employment. c. cyclical unemployment. d. frictional unemployment. e. structural unemployment.