For an unconstrained maximization problem
A. the decision maker seeks to maximize net benefits.
B. the decision maker does not take cost into account because there is no constraint.
C. the decision maker seeks to maximize total benefits.
D. the decision maker does not take the objective function into account because there is no constraint.
E. none of the above
Answer: A
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If the consumption function is defined as C = 7,250 + 0.8Y, what is the value of the multiplier?
A) 0.2 B) 0.8 C) 1.25 D) 5
Which of the following statements about the distribution of physicians among specialties is true in the United States?
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A. balance the budget over the business cycle. B. allow deficit spending only in times of economic downturn. C. allow surpluses to build during times of economic booms. D. All of these statements are true.
State and local governments generate revenue from all of the following sources except
a. sales taxes. b. the federal government. c. corporate income taxes. d. customs duties.