One's own personal gain
a. standard of living
b. privatize
c. economic system
d. self-interest
e. factor payments
Ans: d. self-interest
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How does an increase in income affect the market of bus rides (inferior good)?
a. The demand curve for bus rides to shift to the right b. The demand curve for bus rides to shift to the left c. The supply curve for bus rides to shift to the right d. The supply curve for bus rides to shift to the left
Stella's marginal utility of the last unit of X consumed is 18 and her marginal utility of the last unit of Y consumed is 12 . What prices for X and Y, respectively, are consistent with Stella being in consumer equilibrium?
a. $4 and $6 b. $12 and $18. c. $15 and $15. d. $12 and $8.
Under the gold standard, a balance of payments surplus leads to an outflow of gold
a. True b. False Indicate whether the statement is true or false
The account that gives the most accurate understanding of the economy's potential for growth over the long term is
A. NDP. B. GDP. C. NI. D. GNP.