A consumer is a borrower if
A) optimum current consumption is less than current disposable income.
B) optimum current consumption is greater than current disposable income.
C) future disposable income is greater than current disposable income.
D) the consumer's indifference curves are relatively steep.
B
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Consider a firm that is competitive in both the product and the resource market. The firm incurs a marginal cost of $5. If the marginal product of an additional worker is 20 units, what is the maximum wage that should be offered to the worker?
What will be an ideal response?
Consumer purchases which are consumed at the time and place of purchase are categorized by the Bureau of Economic Analysis as
A) durable goods. B) nondurable goods. C) services. D) investments.
Which of the following is true for the period between 1860 and 1910?
(a) The number of people in the labor force increased at a faster pace than the total population. (b) The workday lengthened. (c) Real national income decreased. (d) All of the above.
The behavior of profit-maximizing producers is guided by
A. Philanthropy. B. Social costs. C. Self-interest. D. Aesthetic concerns.