According to the life-cycle theory of consumption, people tend to dissave during their ________ years.
A. main working
B. early
C. later
D. both B and C
Answer: D
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What is a perfectly competitive firm's short-run supply curve?
What will be an ideal response?
Alex is a non-union employee in a factory. If the union negotiates certain benefits for the employees, Alex enjoys all the benefits although he does not pay the union fee. His behavior is an example of ________
A) rent-seeking B) free-riding C) profit maximizing D) rivalry
If nominal GDP increased from $4,500 billion in 2010 to $5,000 billion in 2011 and the GDP deflator increased from 100 to 105 over the same time period, what would the 2011 real GDP equal expressed in terms of 2010 dollars?
a. $4,285 billion b. $4,500 billion c. $4,725 billion d. $4,762 billion
Free markets produce relatively high levels of efficiency but low rates of growth
a. True b. False Indicate whether the statement is true or false