At a boundary choice:
A. the consumer purchases at least some of every good.
B. the consumer purchases no goods.
C. the consumer does not spend all of her income.
D. the consumer purchases some of at least one good but none of at least one other good.
D. the consumer purchases some of at least one good but none of at least one other good.
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As of the end of 1994, which of the countries in our survey had the closest match in size between its stock and banking markets?
A) The United Kingdom B) The United States C) Japan D) Germany
The opportunity cost of current household consumption is the
a. wage rate. b. market interest rate. c. price of the goods consumed. d. explicit cost of consumption.
The additional cost associated with the hiring of one more unit of labor is known as the
A. marginal revenue product of labor. B. marginal factor cost of labor. C. marginal utility of labor. D. marginal physical product of labor.
The accounting framework used in measuring current economic activity is called
A) the U.S. expenditure accounts. B) the national income accounts. C) the flow of funds accounts. D) the balance of payments accounts.