Refer to the data. Consumption of fixed capital is:
Answer the question on the basis of the following data. All figures are in billions of dollars.
A. $5.
B. $10.
C. $20.
D. $30.
A. $5.
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Historically, investment in stocks have been a prudent investment
A. because stock prices have stayed roughly constant over time. B. because stock prices have generally risen over time. C. because stocks no longer carry any underlying risk. D. because stocks can easily be converted to corporate bonds.
The idea of opportunity cost suggests that the cost of a particular choice should be measured by the
a. price of the good chosen b. price of the good divided by income c. value of the best alternative sacrificed d. amount of the good consumed e. sum of the costs of all foregone opportunities
To maximize total utility, a consumer should buy goods with ______.
a. the highest marginal utility overall b. the lowest marginal utility overall c. the highest marginal utility per dollar d. the lowest marginal utility per dollar
A professor changes the penalty for cheating on exams from getting a 0 on the exam to getting an F in the course. The professor has
A) decreased the marginal benefit of cheating. B) recognized that students don't make rational choices. C) increased the marginal cost of cheating. D) made all the students act in the social interest. E) recognized that students don't respond to incentives.