Consumers adjust their purchasing behavior so that:
A. marginal rate of substitution is maximized.
B. they purchase as many scarce resources as possible.
C. marginal rate of substitution is minimized.
D. the ratio of prices they pay equals their marginal rate of substitution.
Answer: D
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Traditionally, Wall Street investment banks had been organized as partnerships, but by 2000 they had converted to being publicly traded corporations
As partnerships, the principle-agent problem is ________, but as publicly traded corporations, the principal-agent problem is often ________. A) reduced; less severe B) increased; more severe C) increased; less severe D) reduced; more severe
M2 does not include
A) Treasury bonds. B) passbook savings accounts. C) small-denomination time deposits. D) M1.
Nominal gross private domestic investment was $1888.0 billion in 2008 and rose to $2057.4 billion in 2009. The chain-weight price index for gross private domestic investment was 106.6 for 2008 and 110.3 for 2009, where 2005 was the base year
Calculate the percent change in real gross private domestic investment (rounded to the nearest percentage point) from 2008 to 2009. A) 1% B) 3% C) 4% D) 5%
The United States can reduce its trade deficit by limiting imports through tariffs
a. True b. False Indicate whether the statement is true or false