Utility is a(n) _____ measure of well being of a person
a. objective
b. subjective
c. ordinal
d. cardinal
C
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If the expected path of 1-year interest rates over the next four years is 5 percent, 4 percent, 2 percent, and 1 percent, then the expectations theory predicts that today's interest rate on the four-year bond is
A) 1 percent. B) 2 percent. C) 3 percent. D) 4 percent.
Unemployment compensation is an example of:
A) non-discretionary expenditures. B) discretionary expenditures. C) taxes. D) none of the above.
Suppose a new cost-saving device will generate $1,000 net savings per year to a firm. The device costs $10,000. Should the firm purchase the device?
A) definitely B) absolutely not C) The firm is indifferent between buying the device and not. D) More information is required to answer.
According to Keynesian macroeconomists, prices adjust ________ to shocks, so the government should ________.
A. slowly; fight recessions B. rapidly; do little C. slowly; do little D. rapidly; fight recessions