Which of the following is the best definition of economics?
a. Economics is the study of how to manage corporations to generate the greatest return on shareholder investment.
b. Economics is the study of how to manage city and country government to generate the greatest good to its citizens.
c. Economics is the study of how society chooses to allocate its scarce resources.
d. Economics is the study of how to track revenues and costs within a business.
c
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Refer to Scenario 17.1. If the threshold educational level y* is set at 14,
A) only individuals in Group A will attain it. B) only individuals in Group B will attain it. C) individuals in both groups will attain it. D) no individuals will attain it. E) some fraction of individuals in each group will attain it.
Suppose that many corporations begin issuing new bonds. Everything else being equal, what is most likely to happen to the interest rate?
A. It will increase. B. It will decrease. C. It will not change. D. It will vary according to a random walk.