What term do economists use to refer to the satisfaction that an individual expects to receive from consuming a good or service?
a. utility
b. response
c. usability
d. demand
e. desirable
A
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How is the impact of expansionary monetary policy different in an open economy than in a closed economy?
What will be an ideal response?
One problem with unrestricted global capital movements is that capital suppliers may
a. have little information about conditions overseas b. react quickly to bad news regardless of economic fundamentals c. be interested in short-run gains rather than development objectives d. all of the above
Standby letters of credit
A) are a form of swaps. B) are a promise by a bank to lend the borrower funds to pay off its maturing commercial paper. C) are a promise by a large depositor to provide additional funds to a bank should the bank face an unexpectedly large deposit outflow. D) represent the unused balance on a bank credit card.
Cooperative equilibriums:
A. are impossible to reach in real life. B. never occur unless players act in their own self-interest. C. never result in positive-positive outcomes. D. can arise if a game is repeated.