Humans do a ________ job imagining the strength of future gut feelings, and do a ________ job imagining the gut-feeling benefits of future consumption.
A. good; good
B. good; poor
C. poor; good
D. poor; poor
Answer: D
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Deflation is a situation in which the:
A. prices of most goods and services are rising over time. B. quantity of goods and services produced is increasing over time. C. prices of most goods and services are falling over time. D. quantity of goods and services produced is decreasing over time.
People who have dropped out of the labor force and who are no longer looking for a job because they believe the job market has little to offer them are classified by the Labor Department as
A) discouraged workers. B) wage-rate busters. C) unemployed. D) non-participants.
In Figure 16-2 above, the line BF is
A) the MPK less the user cost of capital. B) the user cost of capital less MPK. C) the MPK. D) the demarcation line for profitability.
In a free market for rental housing, the average rental rate
A. includes a large amount of economic rent. B. includes zero economic rent. C. is entirely economic rent, since rental housing is fixed in supply. D. includes some economic rent.