An equilibrium is an outcome in which
a. all individuals are simultaneously optimizing.
b. constraints are no longer binding.
c. social gain is as large as possible.
d. the wants of all agents are fully satisfied.
a. all individuals are simultaneously optimizing.
You might also like to view...
A production possibilities curve that is a straight line represents the case of
A) constant costs. B) increasing costs. C) decreasing costs. D) constant opportunity costs but increasing real costs. E) constant opportunity costs but decreasing real costs.
Two of the most important macroeconomic issues are unemployment and inflation.
Answer the following statement true (T) or false (F)
The antitrust legislation that made it illegal for a firm to buy a competitor's voting stock was the:
a. Sherman Antitrust Act. b. Celler-Kefauver Act. c. FTC Act. d. Robinson-Patman Act. e. Clayton Act.
The higher the interest rate:
A. the greater the level of inflation. B. the smaller the present value of a future amount. C. the greater the present value of a future amount. D. None of the statements associated with this question are correct.