Utility analysis deals with
A. the consumption decisions of people based on utility maximization.
B. the formation of tastes and preferences.
C. the differences of tastes and preferences across individuals.
D. how consumers determine the utility they receive from consumption.
Answer: A
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Which of the following statements is true?
A. Comparative advantage means that total world output will be greatest when each good is produced by the nation that has the highest domestic opportunity cost of producing it. B. Specialization will be complete among nations when opportunity costs increase as the nations produce more of a particular product. C. Specialization will be less than complete among nations when opportunity costs increase as the nations produce more of a particular product. D. Comparative advantage means that a nation can gain from trade only if it has a lower labor productivity than its trading partner.
In wrongful death lawsuits, courts typically take into consideration the victim's character and personality when assessing damages
Indicate whether the statement is true or false
Suppose you need an estimate of future inflation (to decide, for example, whether a particular security is a good investment). How might you formulate a rational expectation?
What will be an ideal response?
A loan contract that requires the borrower to keep a certain percentage of its assets in cash is an example of ________
A) screening B) monitoring C) a restrictive covenant D) a patent contract