Which of the following is most consistent with the basic postulate of economics: changes in incentives exert a predictable impact on human behavior?
What will be an ideal response?
People will buy less gas if the price of gas increases by $0.50 per gallon.
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A report on GDP says that income fell. Then spending measured by GDP __.
A. might have risen B. must have risen C. might have fallen D. must have fallen
Along a production possibilities curve showing capital and consumption goods production, which of the following pairs are being held fixed?
A. Unemployment and capital goods production. B. Number of resources and technology. C. Composition of the economy's output and number of resources. D. Capital and consumption goods production.
The cash you have in your wallet would be counted in which measure of money?
A. Hard money B. M2 C. M1 D. It would be counted in all of these
The possibility of not getting paid back on a loan is known as
A. financial intermediation. B. the risk of default. C. deposit risk. D. arbitrage.