Economists assume that individuals consume products to:
a. minimize cost.
b. maximize total utility.
c. maximize consumption.
d. minimize marginal utility.
b
You might also like to view...
What is the difference between multilateral aid and bilateral aid?
a. Multilateral aid is country to country, and bilateral aid comes from organizations using funds from many countries. b. Multilateral aid comes from organizations using funds from many countries, and bilateral aid is country to country. c. Multilateral aid is country to country, and bilateral aid comes from philanthropic organizations. d. Multilateral aid comes from philanthropic organizations, and bilateral aid comes from organizations using funds from many countries.
In an economy with a population of 100 million persons, 44 million hold civilian jobs and 6 million are not working but are looking for jobs. The unemployment rate is
A) 6.0 percent. B) 13.6 percent. C) 7.3 percent. D) 9.4 percent. E) 12.0 percent.