The expression, "There's no such thing as a free lunch" implies that:
a. everyone has to pay for his/her own lunch
b. the person consuming a good must always pay for it.
c. costs must be incurred when resources are used to produce goods and services.
d. no one has time for a good lunch anymore.
c
Economics
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One characteristic of a financial crisis caused by macroeconomic imbalances is that it
A) may or may not be predictable. B) will occur eventually even though its timing is unpredictable. C) may be caused by expansionary fiscal policies accompanied by high budget deficits. D) may be caused by high deficits financed by increases in the money supply. E) All of the above.
Economics
If the utility function (U) between bananas (B) and jam (J) can be represented as U = 3ln(B)+4ln(J) the marginal utility of jam equals
A) 4B. B) 3B/J. C) 4/J. D) B/J.
Economics