A choice made _______ is a choice whether to do a little more or a little less of something.
A) at the front end
B) in the beginning
C) at the margin
D) all of the above.
Ans: C) at the margin
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If voters are rationally ignorant, then the interest of the bureaucracy to maximize its budget will result in an oversupply of a public good
Indicate whether the statement is true or false
You are given the following consumption function C = 50 + .80YD. What is the amount of autonomous consumption expenditures?
A) 75 B) 100 C) 5 D) 50
When money prices are used to facilitate comparisons of value, money is said to function as a
A) unit of account. B) medium of exchange. C) store of value. D) payments-system ruler.
If you believe that expectations react slowly, you are likely:
a. a believer in rational expectations b. a Keynesian c. a theoretical economist d. None of these.