Saving for protection against unexpected setbacks-such as the loss of a job or a medical emergency-is called ________ saving.
A. life-cycle
B. precautionary
C. bequest
D. public
Answer: B
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As an individual consumes more of a good, the marginal utility of that good declines
a. True b. False Indicate whether the statement is true or false
Assume that Ford Motor Company engineers achieve a revolutionary technological breakthrough in the production process of automobiles. Which of the following is expected to take place?
a. A movement up along the existing supply curve for Ford automobiles b. The supply of Ford automobiles will remain unchanged c. An inward shift of the supply curve for Ford automobiles d. A downward movement along an existing supply curve for Ford automobiles e. An outward shift of the supply curve for Ford automobiles
Which of the following is true about the Federal Reserve and its ability to prevent recessions? The Federal Reserve
A) does not try to eliminate recessions, but instead focuses on preventing inflation. B) can fine tune the economy and realistically hope to keep the economy from experiencing recessions. C) cannot realistically fine tune the economy, but seeks to keep recessions shorter and milder than they would otherwise be. D) cannot realistically fine tune the economy and has little to no effect on the magnitude and length of recessions.
The sizeable and continuous flow of immigrants into the United States seems to indicate that there is a positive return to moving. Many economic immigrants, however, never achieve pay-parity with similarly educated native-born workers while others
eventually outdo domestic-born workers in salary wage advancement. Explain. What will be an ideal response?