Optimal consumption is the mix of consumer goods sold that maximizes utility for producers.
Answer the following statement true (T) or false (F)
False
Optimal consumption is the mix of consumer goods purchased that maximizes utility for consumers.
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When a country allows trade and becomes an importer of goods, producers gain more than consumers lose
a. True b. False Indicate whether the statement is true or false
The largest portion of the M1 money supply consists of
a. coins in circulation. b. paper currency in circulation. c. savings deposits at credit unions. d. checkable deposits.
Deficit financing has been part of U.S. history from the very beginning. The Continental Congress put the country into debt in order to continue its fight for independence from Great Britain. As is done today, Congress issued bonds
What will be an ideal response?
Suppose the voters in a small country are choosing between two options, A and B. After the voting is complete it is discovered that option A received 100% of the votes with option B receiving no votes. After the vote, however, the country's leader decides that option B is better for the people and implements B rather than A. The voting system in this country fails which of Arrow's properties of a
desirable voting system? a. unanimity b. transitivity c. independence of irrelevant alternatives d. No dictators