Economics is the study of how people make
A) subjective judgments.
B) life easy.
C) money.
D) choices.
Answer: D
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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.
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
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
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?