A consumer's budget refers to the:
A) wealth she has acquired over time.
B) prices of the goods she buys.
C) amount of money she can spend on various goods and services.
D) difference between the consumer's income and expenditure.
C
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Which of the following theories applies to strategic behavior?
a. Field Theory b. Game Theory c. Theory of Consumers' Behavior d. Social Contract Theory e. Rational Choice Theory
A decrease in taxes
a. increases GDP as much as a decrease in government purchases b. increases GDP less than an equal increase in government purchases c. decreases GDP more than an equal decrease in government purchases d. changes GDP but in an unpredictable way because some people consume more than others and others save more than some e. increases consumption but has no effect on GDP
In many years, off-farm income at the national level is ________ than net farm income
Fill in the blank(s) with correct word
A monopolist is defined as
A. a single producer of a good or service for which there is no close substitute. B. a producer of a good or service that is expensive to produce, requiring large amounts of capital equipment. C. a large firm, making substantial profits, that is able to make other firms do what it wants. D. a firm with many business establishments located across the nations.