Assets minus liabilities equals
A) implicit costs. B) accounting profit. C) economic profit. D) net worth.
D
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As a household's disposable income increases, its autonomous expenditures ________ and its induced expenditures ________
A) increase; do not change B) decrease; do not change C) increase; increase by a smaller amount than the increase in income D) do not change; increase by an amount equal to the increase in income E) do not change; increase by a smaller amount than the increase in income
One explanation that behavioral economists give for procrastination and other time-inconsistent behavior is
A) people's personal discount rate is greater in the far future than in the near future. B) people's personal discount rate is smaller in the far future than in the near future. C) people's personal discount rate is the same in the far future as in the near future. D) None of the above.