Choices that are best for the society as a whole are choices in pursuit of
A) self-interest.
B) answering the "how" question.
C) answering the "for whom" question.
D) the social interest.
E) incentives.
D
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How will firms react when they discover that their actual investment is less than their intended investment? How will their reaction affect equilibrium national income?
A study conducted by economists Marianne Bertrand and Sendhil Mullainathan found evidence of labor-market discrimination based on which of the following findings?
a. Restaurant customers preferred to be waited on by white waitresses rather than black waitresses. b. Black basketball players earned more than white basketball players. c. Employers were more likely to request interviews with job applicants with "white" names such as Greg than from applicants with "black" names such as Jamal. d. Employers were more likely to request interviews with job applicants with "masculine" names such as Mark than from applicants with "feminine" names such as Lisa.
The theory of consumer behavior assumes that:
A. consumers behave rationally, attempting to maximize their satisfaction. B. consumers have unlimited money incomes. C. consumers do not know how much marginal utility they obtain from successive units of various products. D. marginal utility is constant.
Explain why it is correct to say the Federal Reserve functions as the government's bank but it is incorrect to say it controls the government's budget.
What will be an ideal response?