Figure 7.5
The consumer must decide how to split $20 between spending and saving.Refer to Figure 7.5. If the consumer uses cognition to offset present bias, he/she will maximize utility by ________ consumption and ________ saving.
A. increasing; increasing
B. increasing; decreasing
C. decreasing; increasing
D. decreasing; decreasing
Answer: C
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If real GDP grew 5 percent last year and the population grew 2 percent, then real GDP per person grew by ________ percent
A) 2 B) 5 C) 3 D) 7 E) 10
A municipal bond is
a. issued by the federal government.
b. issued by state and local governments.
c. issued by corporations.
d. issued by households.
According to the above table, at a price of $1 per unit, which of the following would exist?
A. a shortage of 800 units B. a shortage of 200 units C. a surplus of 200 units D. a surplus of 800 units
A firm competing in a perfectly competitive labor market desires to maximize
A. marginal profit, not total profit. B. average profit, not marginal profit. C. total profit, not marginal profit. D. marginal profit, not average profit.