Examples of assets that are included in household wealth would be
a. stocks, bonds, and savings accounts.
b. stocks, loans owed, and savings accounts.
c. stocks, bonds, and mortgages.
d. stocks, credit cards, and savings accounts.
a. stocks, bonds, and savings accounts.
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An individual's consumption and saving behavior during a given year, as a result of a planning process that considers his or her lifetime economic situations, is known as the
A. lifetime model. B. consumption model. C. life-cycle model. D. income model.
Tomato sauce and spaghetti noodles are complementary goods. A decrease in the price of tomatoes will
a. increase consumer surplus in the market for tomato sauce and decrease producer surplus in the market for spaghetti noodles. b. increase consumer surplus in the market for tomato sauce and increase producer surplus in the market for spaghetti noodles. c. decrease consumer surplus in the market for tomato sauce and increase producer surplus in the market for spaghetti noodles. d. decrease consumer surplus in the market for tomato sauce and decrease producer surplus in the market for spaghetti noodles.
If resources are allocated efficiently in a market economy:
A. each person's utility is maximized, and so the result is Pareto optimal. B. the outcome will always be socially desirable. C. the way final goods and services are distributed does not matter to society. D. the outcome may not be socially desirable if distributional issues are also important.
In the above figure, the x-coordinate of point b is
A) 1. B) 2. C) 3. D) 14.