Among a set of alternatives with the same benefits, an individual is said to optimize if she chooses an alternative that:
A) has the lowest total cost.
B) has the highest total cost.
C) has the highest indirect cost.
D) has the lowest opportunity cost.
A
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The best time to purchase the stock of a corporation capable of generating large earnings in the future is when
A) everyone expects its future earnings to be larger than they are now. B) the price of the stock is lower than it has been in recent years. C) the price of the stock is higher than it has been in recent years. D) you alone expect its future earnings to be larger than they are now. E) you know the corporation has already started to generate large earnings.
The negative correlation between the vacancy rate and the unemployment rate is called
A) The Laffer curve. B) The Phillips curve. C) The Fisher relation. D) The Beveridge curve.
Maryanne expects to work for another 30 years and expects to live another 10 years after she retires. If Maryanne completely smooths consumption over her lifetime, her marginal propensity to consume out of permanent increases in income is
A) 0.25. B) 0.33. C) 0.67. D) 0.75.
When the cross-price elasticity of demand between two products is positive, the two goods are said to be substitutes
a. True b. False