What matters to people is the face value of money or income
Indicate whether the statement is true or false
FALSE
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Financial securities that represent promises to repay a specified amount of money at a particular point in the future are
A) bonds. B) stocks. C) commodities. D) mutual funds.
When the fishing economy mobilized for war preparedness by drafting young men and women, many draftees came from fishing jobs. Picture the market for fish, before and after the mobilization. What happens to the price and quantity of fish on the market after the draft went into effect?
a. Both fish prices and quantity increased. b. Fish prices increased and quantity remained unchanged. c. The draft had no effect on the fish market. d. Fish prices decreased and quantity increased. e. Fish prices increased and the quantity decreased.
According to the maximin criterion, income should be transferred from the rich to the poor as long as it
a. raises the well-being of the least fortunate. b. does not alter incentives to work and save. c. promotes an equal distribution of income. d. does not lower the welfare of the elderly.
A rational choice is one that:
A. does not involve self-interested behavior. B. allows individuals to reach their goals. C. is usually optimized when decision makers are poorly informed about alternatives. D. involves the use of strategic decision making in an effort to reach a goal.