According to the John Maynard Keynes' liquidity trap, at very low rates of interest, people tend to
A. lend out their money.
B. put their money in the bank.
C. buy bonds.
D. hold their money.
D. hold their money.
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Liz's marginal utility for two different goods is determined by
A) her average utility for the two goods. B) how much benefit she gets from another unit of each of those goods. C) summing her total utility from consumption of each good and then dividing by two. D) All of the above answers are correct.
When there are few substitutes available for a good, demand tends to be relatively inelastic
Indicate whether the statement is true or false
An import quota is a tax on imports
Indicate whether the statement is true or false
An approach that can be taken by someone directly involved in a transaction to solve the problems caused by information asymmetry is:
A. proofing. B. mandating that information be shared. C. building a reputation. D. disclosure laws.