Rates of substitution are determined by:
A. the consumer's income.
B. the consumer's preferences.
C. the number of available consumption bundles.
D. the prices of different goods.
B. the consumer's preferences.
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Health insurance markets are likely to attract a disproportionate number of ________ individuals
A) high-risk B) risk-seeking C) low-risk D) risk-averse
Suppose the Fed buys $1 billion worth of bonds and the required reserve ratio is 5%. In theoretical limit, the money supply could
A) decrease by $5 billion. B) increase by $5 billion. C) increase by $20 billion. D) decrease by $20 billion.
To understand the public sector, we must understand not only how government allocates resources, but also the importance role that _____ play in the policy-making process
a. corporations b. families c. politics d. individuals
An increase in oil prices will increase the equilibrium price level and decrease aggregate output, ceteris paribus.
Answer the following statement true (T) or false (F)