National saving is saving by:
A. households for retirement.
B. the government.
C. households and firms.
D. the entire economy.
Ans: D. the entire economy.
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The above table shows Priscilla's marginal utility from the two goods she consumes, pizza and Pepsi. Initially, a slice of pizza costs $4 and a can of Pepsi $2. Suppose Priscilla has $12 to spend
If the price of pizza falls to $2, Priscilla will choose to A) consume more pizza. B) consume more Pepsi. C) consume less pizza. D) Both answers A and B are correct.
Explain the modified version of utilitarianism proposed in the book entitled "A Theory of Justice," by the philosopher John Rawls and its relationship to the "big tradeoff."
What will be an ideal response?
When the money market is drawn with the value of money on the vertical axis, as the price level decreases, the value of money
a. increases, so the quantity of money demanded increases. b. increases, so the quantity of money demanded decreases. c. decreases, so the quantity of money demanded decreases. d. decreases, so the quantity of money demanded increases.
A nation has a positive net capital outflow. Which of the following is correct?
a. Purchases of foreign assets by domestic residents exceed purchases of domestic assets by foreigners b. It has positive net exports. c. Its savings exceeds its domestic investment. d. All of the above are correct.