What three factors did Keynes identify that affect consumption expenditures?
a. Disposable income, expected future income, and wealth or credit
b. Total income, expected future income, and wealth or credit
c. Disposable income, inflation rate, and wealth or credit
d. Total income, expected future income, and inflation rate
a. Disposable income, expected future income, and wealth or credit
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A fiduciary monetary system ultimately rests on
A) the value of the assets backing up the system. B) the public's confidence in the system. C) the difficulty of counterfeiting the currency. D) the value of the metal backing up the system.
To solve the principle agency problem, which of the following questions should you ask a. Who is making the bad decision?
b. Does the decision maker have all the relevant information? c. Does the decision maker have the incentive to make the right decision? d. All of the above
A decrease in the price of a foreign currency is represented graphically as
a. rightward movement along the demand curve for that currency b. an upward shift of the demand curve c. a downward shift of the demand curve d. a horizontal line e. a vertical line
For a firm in a perfectly competitive industry, which of the following is TRUE?
A. MR > P B. MR < P C. MR = P D. AVC = ATC