A diagram of an individual's utility from income will be a line with a constant slope if the individual is risk-neutral.
Answer the following statement true (T) or false (F)
True
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If all international factor payment flows are investment income, then net investment income from abroad equals
A) net exports. B) the current account balance. C) the trade balance. D) net income from abroad.
We consider the preferences of the consumer because
A) we want to understand the consumer's reaction to changing circumstances. B) we want to determine the best marketing strategy. C) the government wants to make the best consumption and leisure choice. D) the firm needs to determine what to produce.
When the Fed conducts expansionary monetary policy, it __________ in the short run, but __________ in the long run.
A. boosts demand; causes inflation B. causes inflation; boosts output C. causes inflation; boosts economic growth D. boosts demand; boosts supply
What two main things did returning veterans want to buy after World War II? ____________________.
Fill in the blank(s) with the appropriate word(s).