(In/Y) is quite ________ in the U.S. economy, and ________ stay away from its long-run average for several consecutive years
A) stable, yet it can
B) stable, so it does not
C) volatile, yet it can
D) volatile, so it does not
C
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Consumer choice theory generally concludes that is based on the hypothesis that each consumer wants to
A. maximize her total utility. B. maximize her marginal utility. C. minimize the rate at which her marginal utility diminishes. D. minimize the percentage of her consumption diverted to inferior goods.
A currency pegged at a value below the market equilibrium exchange rate is
A) achieving purchasing power parity. B) undervalued. C) overvalued. D) None of the above are correct.
Most mutual funds are
A) no-load funds. B) load funds. C) large-load funds. D) small-load funds.
Assuming that professional and college football are substitutes, an increase in the ticket price for professional football, other things being equal, will:
a. increase the demand for college football tickets. b. decrease the demand for college football tickets. c. not change the demand for college football tickets. d. decrease the demand for professional football games.