Economics is the study of how people make

A) subjective judgments.
B) life easy.
C) money.
D) choices.


Answer: D

Economics

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Assuming money neutrality in the classical model, a 10% increase in the nominal money supply would cause

A) a 10% increase in the real money supply. B) a 10% decrease in the real money supply. C) no change in the real money supply. D) a less-than-10% change in the price level due to a shift in the aggregate supply curve.

Economics

Derek has $1 to spend at the grocery store. An apple, an orange, and a banana cost $0.50 each. If Derek's MUA/PA (ratio of marginal utility to price) of an apple is 45, MUO/PO of an orange is 38, and MUB/PB of a banana is 52, he will purchase a(n) _____ first and a(n) _____ second

a. apple; orange b. orange; apple c. banana; orange d. banana; apple e. orange; banana

Economics

Sales contracts between developed countries are usually written (invoiced) in the national currency of the exporter

a. True b. False Indicate whether the statement is true or false

Economics

If a small firm wishes to pay cash in one year for a $10,000 machine, how much must the firm currently place in savings at 5 percent in order to have the necessary total cash in one year?

What will be an ideal response?

Economics