The feature of preferences that "more is better"
a. is a logical consequence of transitivity
b. is shared by most people, most of the time.
c. implies that 5 apples will always be preferred to 4 oranges
d. implies that 5 apples will always be preferred to 5 oranges
e. means that, when dining, people always try to eat as much as they possibly can
B
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Which of the following generally becomes positive when the value of U.S. exports exceeds the value of U.S. imports?
A) capital and financial account B) the balance of payments account C) current account D) the official settlements account E) the exchange rate
The expenditure multiplier is equal to the change in ________ divided by the change in ________
A) dependent expenditure; autonomous expenditure B) autonomous expenditure; equilibrium expenditure C) the price level; real GDP D) equilibrium expenditure; autonomous expenditure E) real GDP; equilibrium expenditure