Which of the following describes the concept of rational self-interest? (check all that apply)
a. Individuals look for and pursue opportunities to increase their utility.
b. Individuals allocate their resources according to society's purposeful behavior.
c. Individuals weigh the costs and benefits of their decisions.
d. Individuals allocate their resources to maximize their satisfaction.
e. Individuals look for and pursue opportunities to maximize social welfare.
a. Individuals look for and pursue opportunities to increase their utility.
c. Individuals weigh the costs and benefits of their decisions.
d. Individuals allocate their resources to maximize their satisfaction.
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Which of the following would reduce the labor force participation rate, all else equal?
A) an increase in the working-age population B) an increase in the unemployment rate C) a decrease in the unemployment rate D) an increase in the number of people in the labor force
The Coase theorem states that
A. positive externalities are directly related to the weather-the better the weather, the more positive externalities. B. in the case of trivial or zero transaction costs, negative externalities are more likely to appear. C. when transaction costs are high, positive externalities will be minimized. D. in the case of trivial or zero transaction costs, the property rights assignment does not matter to the resource-allocative outcome.
The type of security that is protected against inflation are:
A. Treasury bonds. B. Treasury notes. C. TIPS. D. Treasury bills.
Money is destroyed when: a. new loans are made
b. the net worth of the banking system declines. c. loans are repaid to banks. d. checks written on accounts at one bank are deposited in another bank.