Consumers express self-interest when they:
a. Reduce business losses
b. Search for jobs with the highest wages
c. Collect economic profits
d. Seek the lowest price for a product
d. Seek the lowest price for a product
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The long-run Phillips curve would shift to the left if
a. the money supply growth rate increased or if effective job-training programs were implemented. b. the money supply growth rate increased, but not if effective job-training programs were implemented. c. effective job-training programs were implemented, but not if the money supply growth rate increased. d. None of the above is correct.
If adopted by a firm, a labor-augmenting piece of technology is one that would:
A. increase labor supply. B. decrease labor demand. C. decrease labor supply. D. increase labor demand.
In the fall of 1998 we saw an increase in the risk spread because:
A. there was a significant increase in U.S. income tax rates. B. the Russian government defaulted on some of its bonds. C. the risk spread always increases as we approach the end of the year. D. there was an extraordinarily large amount of corporate fraud being reported in 1998.
Actively managed funds:
A. generate lower costs than passively managed funds. B. generally outperform passively managed funds. C. generally perform the same as passively managed funds. D. are generally outperformed by passively managed funds.