Which of the following reasons do economists use to explain why people are overweight?
a. People undervalue the utility to be received in the future.
b. People overvalue the utility from current choices.
c. People's preferences are not consistent over time.
d. All of the above explain why people are overweight.
d. All of the above explain why people are overweight.
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Consumer protection legislation includes legislation to
A) reduce discrimination in credit markets. B) require banks to make loans to everyone who applies. C) reduce the amount of interest that bank's can charge on loans. D) require banks to make periodic reports to the Better Business Bureau.
When the Fed unexpectedly decreases the money supply,
a. real interest rates will rise and the foreign exchange value of the dollar will appreciate. b. real interest rates will rise and the foreign exchange value of the dollar will depreciate. c. real interest rates will fall and the foreign exchange value of the dollar will appreciate. d. real interest rates will fall and the foreign exchange value of the dollar will depreciate.
What would be an example of an implicit cost of production?
a. the cost of a delivery truck in a business that rarely makes deliveries b. the cost of employee training programs c. the cost of raw materials for producing bread in a bakery d. the cost of lost income an entrepreneur could have earned working for someone else
If the interest rate is positive, the future value of an interest bearing investment is always larger than the present value
What will be an ideal response?