Multiple Choice
In a one-period economy
A) consumption equals disposable income.
B) consumption equals disposable income plus the value of non-market work.
C) savings is always positive.
D) consumers may increase their consumption by borrowing.
Correct Answer:
Verified
Correct Answer:
Verified
Q9: Total factor productivity encompasses<br>A) labor.<br>B) capital.<br>C) output.<br>D)
Q10: A positive,pure income effect can be obtained
Q11: Look at the production schedule of the
Q12: A utility function<br>A) needs to measure the
Q13: We assume that the representative consumer's preferences
Q15: A good is normal for a consumer
Q16: An increase in the real wage<br>A) unambiguously
Q17: Look at the production schedule below: <img
Q18: Labor supply<br>A) must necessarily increase when the
Q19: When the wage increases,the substitution effect in