Which of the following best describes the reason for studying economics?
a. Studying economics helps individuals, businesses, and governments make the best decisions.
b. Studying economics helps individuals, businesses and governments understand the financial problems facing the world today.
c. Studying economics gives businesses and governments the answers to economic problems.
d. Studying economics only helps governments understand the major problems facing the world today.
a. Studying economics helps individuals, businesses, and governments make the best decisions.
You might also like to view...
The following is a total-product schedule for a resource. Assume that the quantities of other resources the firm employs remain constant.Units of ResourceTotal Product124242460680792If the product the firm produces sells for a constant $3 per unit, the marginal product of the fourth unit of the resource is
A. $15. B. $18. C. $27. D. $45.
The figure above shows Clara's demand for CDs. If the price for a CD is $15, then Clara
A) receives no consumer surplus on the 6th CD she buys. B) receives a total of $10 of consumer surplus. C) will buy no CDs. D) receives a total of $40 of consumer surplus.
A few U.S. commercial banks are allowed to have "section 20 affiliates" that can
A) underwrite corporate debt and equity. B) operate in foreign markets. C) branch nationwide regardless of state laws. D) own majority shares in other banks.
Suppose autonomous consumption decreases. This reduction in autonomous consumption will cause which of the following to occur?
A) The consumption function shifts down. B) The consumption function shifts up. C) The consumption function becomes steeper. D) The consumption function becomes less steep.