What are the three basic decisions that any household must make
What will be an ideal response?
Every household must make three basic decisions: (1) how much of each product, or output, todemand; (2) how much labor to supply; and (3) how much to spend today and how much tosave for the future.
Economics
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If the market rate of interest is 13%, the growth of nominal GDP 9%, and the growth of real GDP 2%, then
A) the rate of inflation is 11%. B) the rate of inflation is 4%. C) the rate of inflation cannot be determined. D) none of the above
Economics
In the above figure, at the profit-maximizing rate of production for the perfectly competitive firm total revenue is
A) $100. B) $70. C) $30. D) $130.
Economics