A person is dynamically inconsistent if:
A. lapses in self-control occur.
B. he does not always follow through on his plans and intentions.
C. he changes his ranking of alternatives available at some future date as the date approaches or once it arrives.
D. All of these are sufficient for dynamic inconsistency.
D. All of these are sufficient for dynamic inconsistency.
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The federal deficit ________ in 2006 and 2007, and ________ in 2008
A) increased, increased further B) increased; decreased C) decreased; increased D) decreased; decreased further
In a closed economy, national saving
A) sometimes equals investment. B) always equals investment. C) is always less than investment. D) is always more than investment. E) is never equal to investment.
The manager of View Your World, a high-end window manufacturer, notices that the cost to purchase glass for their windows in the spot market has fallen. As a result of the change, which of the following is true?
A) The manager has less of an incentive to integrate backward. B) The manager has less of an incentive to integrate forward. C) The manager has more of an incentive to integrate forward. D) The manager has more of an incentive to integrate backward.
If marginal revenue is $8 and marginal costs is $10, the firm should increase its output.
Answer the following statement true (T) or false (F)