Which of the following will most likely cause a shift in the consumption function?
A. A change in consumer confidence
B. A change in national output
C. A change in real GDP
D. A change in disposable income
Answer: A
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The opportunity cost of producing a unit of consumption at point b in the figure ________ point a
A) is greater than at B) is less than at C) cannot be compared with D) is the same as
The unwillingness of individuals to share in the cost of a public good is called the:
A. volunteer problem. B. social conscience problem. C. public choice problem. D. free rider problem.
Two teams played a game called Thai 21 on an episode of the television show Survivor. Call the teams Green and Red. The game begins with 21 flags. The teams take turns. When it is a team's turn, it can remove one, two, or three flags
The team that removes the last flag wins. Green goes first. Who should win this game, Green or Red?
When a group of workers finds that their job skills and work experience have become obsolete and are not needed by industry, this type of unemployment is:
A. structural. B. cyclical. C. search. D. frictional.