A bundle:
A. is a specific combination of goods and services an individual could consume.
B. describes the amount of people that choose a particular combination of goods.
C. is a curve describing different combinations of goods and services an individual could choose to consume.
D. is when a store sells goods at a discounted price.
A. is a specific combination of goods and services an individual could consume.
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Mr. Adams owns a textile business. In order to deal with the principal-agent problem, Mr. Adams might offer his employees
A) incentive pay. B) long-term contracts. C) part- ownership. D) all of the above.
The LM curve represents combinations of income and interest rate which
A) clear the goods market. B) achieve the external equilibrium. C) clear the money market. D) achieve internal equilibrium.
Why are successful collusive oligopolies rather short-lived?
When the government wants to spend money
a. current consumption will fall only if the government borrows. b. current consumption will fall only if the government raises taxes. c. current consumption will fall if the government borrows or raises taxes. d. current consumption will not be affected.