You currently subscribe to two magazines and are trying to decide whether you should subscribe to a third. What should determine your decision, if you are rational?
a. the total cost of the magazines compared to the total satisfaction you would receive
b. the total amount of satisfaction you would get from the magazines
c. the enjoyment you would get from the third magazine
d. the cost of the third magazine, including the time it takes to read it
e. the cost of the third magazine compared to the additional enjoyment you would get from it
E
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What is a gold standard?
What will be an ideal response?
Which of the following is an item in the current account balance of the United States? The purchase of:
A. A U.S. company by a foreign company B. Stock in a foreign corporation by a U.S. company C. Insurance in the United States by a foreign company D. A United States Treasury bond by a wealthy foreigner
The structural deficit is the deficit
A) during an expansion. B) that would occur at full employment. C) caused by the business cycle. D) during a recession. E) that does not increase the national debt.
If prices are inflexible, monetary policy:
A. doesn't affect real output or inflation. B. affects real output but not inflation. C. affects inflation but not real output. D. affects both inflation and real output.