If consumer confidence rises because of strong job growth in an economy, what is likely to happen to the rate of savings?
a) The savings rate will likely rise.
b) The savings rate will likely fall.
c) The savings rate will likely fall to zero.
d) The savings rate will turn negative.
Ans: b) The savings rate will likely fall.
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Wikipedia is an example of a:
A. a public good. B. a private good. C. a common resource. D. an artificially scarce resource.
Accurately incorporating the present consequences of an action, but ignoring or underestimating the future consequences, is a description of present bias.
Answer the following statement true (T) or false (F)
Suppose that the U.S. Open ticket costs $100 and the British Open ticket costs £50 and the exchange rate is $1.43. How much does the British Open ticket cost for an American attending the British Open?
What will be an ideal response?
Total revenue is equal to
A) the amount of funds earned by a firm minus its costs of production. B) the total quantity sold of a product over a given period of time. C) the price of a product multiplied by the number of units of the product sold. D) the monetary value of the capital (for example, plant and equipment) a firm owns.