Pain, suffering and disfigurement are forms of
a. compensatory damages
b. punitive damages
c. economic damages
d. all of the above.
A
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If only a small volume of trading can be absorbed without producing wide price swings, a market is
A) liquid. B) thin. C) broad. D) resilient.
A change in the interest rate will generally affect the
A) level of investment. B) level of consumption. C) the amount of money people want to hold. D) All of these.
Taking into account the utility of all persons in society is referred to as
A. an utilitarian social welfare function. B. equalizing social welfare function. C. an in-kind transfer. D. a Pareto equilibrium.
A decrease in stock prices will _____ the net wealth of households and _____ consumption
a. reduce; increase b. reduce; decrease c. reduce; not change d. increase; increase e. increase; decrease