To assure a well-defined solution to the consumers' intertemporal choice problems, we must assume that consumers' preferences exhibit the properties that
A) consumers are all identical and that more is always preferred to less.
B) more is preferred to less and that consumers prefer diversity.
C) consumers like diversity and that more is sometimes preferred to less.
D) more is sometimes preferred to less and that first-period consumption and second-period consumption are both normal goods.
B
Economics
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If the number of employed workers in an economy is 4 million, the number of unemployed people in the economy is 2 million, and the number of adults not in the labor force is 1 million, the potential adult workers in the economy is:
A) 2 million. B) 6 million. C) 1 million. D) 7 million.
Economics
Market price is determined by
A. both supply and demand B. supply only C. demand only D. neither supply nor demand
Economics