Other things constant, which person is willing to save more?
A) One that has a higher rate of time preference
B) One that has a lower rate of time preference
C) One that has no rate of time preference
D) One that has no consideration about the value of goods now and in the future
B
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Using the data in the above table, if the firm employs 5 workers, total product (measured in units per day) and average product and marginal product of the fifth worker (measured in units per worker) are
A) 23, 5.00, and 4 respectively. B) 23, 5.75, and 4 respectively. C) 25, 5.00, and 2 respectively. D) 25, 5.75, and 4 respectively.
Financial markets do NOT include which of the following?
A. Government regulatory agencies B. Banks C. Stock markets D. Nonprofit organizations
Because people enjoy the benefits of public goods whether they pay for them or not, people are usually ________ to pay for them. This is known as the free-rider problem, and is intrinsic to ________ goods.
A. unwilling; public B. unwilling; private C. willing; public D. willing; private
Refer to the graph shown. Which supply curve is perfectly inelastic?
A. A B. B C. C D. D