Present bias implies that:
A) a consumer gives much more weight to the future than to the present.
B) a consumer gives much more weight to the present than to the future.
C) discount weights for delayed consumptions will always equal one.
D) discount weights for delayed consumptions will always be greater than one.
B
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Demand pull inflation occurs when a nation's:
a. Aggregate demand rises, causing rising prices and rising unemployment. b. Aggregate demand rises, causing rising prices and falling unemployment. c. Aggregate demand rises, which leads to a decrease in aggregate supply and an increase in prices. d. Aggregate supply falls, causing rising prices and rising unemployment.
On a certain supply curve, one point is (quantity supplied = 200, price = $2.00) and another point is (quantity supplied = 250, price = $2.50). Using the midpoint method, the price elasticity of supply is about
a. 0.2. b. 0.5. c. 1.0. d. 2.5.
The ______ of money refers to the intensity with which money is used.
a. rate b. velocity c. depreciation d. appreciation
The peak of the isoprofit curve has which of the following characteristics?
A. It is the point on the isoprofit curves where Cournot competitors can efficiently achieve collusion profits. B. It is the point at which monopoly profits are always achieved. C. It is the point at which the isoprofit curve crosses the reaction function. D. It is the point on the isoprofit curves associated with the highest profit.