Decisions about saving and investment are
A.
Generally made under conditions of complete certainty about the future
B.
Complicated by the fact that the future is uncertain
C.
Unaffected by expectations of the future
D.
Independent of expectations about the future
B.
Complicated by the fact that the future is uncertain
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There is greater support for passive policymaking when
A) price flexibility is common. B) wage flexibility is common. C) pure competition is widespread. D) all of the above.
If price exceeds average variable cost but is less than average total cost, a firm
A) should shut down. B) should further differentiate its product. C) should stay in business for a while longer until its fixed costs expire. D) is making some profit but less than maximum profit.
Because the seller of a used car has more information than the buyer:
A. the problem of moral hazard occurs. B. the problem of information overload occurs. C. the problem of adverse selection occurs. D. the problem of bargaining imbalance occurs.
Which of the following did not contribute to the farmer's worsening terms of trade during the period of 1875-1895?
a. A rapid increase in the supply of agricultural products. b. Output increases as a result of technological change during the period. c. A rise in demand for U.S. crops after the Civil War. d. The income elasticity of demand for most agricultural crops was less than one.