24. The great economic problem is A) minimizing unemployment in a changing world

Question

24. The great economic problem is A) minimizing unemployment in a changing world. B) reducing the deficit in a two party system. C) satisfying infinite wants with limited resources D) restricting immigration to a legal process. 25. According to the efficient markets hypothesis, A) everyone can outperform the stock market indexes B) C) D) when one investor outperforms the stock market index, another investor mus underperform. ordinary investors should always follow the advice of market geniuses like Warren Buffet. no investor can persistently outperform the stock market indexes. 26. When a speculative bubble bursts A) people feel poorer because of lower stock prices and thus spend less. B) employment usually increases. C) there is minimal effect in the overall economy D) the effects are contained in the market whose prices have collapsed 27. Assume that the unit price of good A is $2, and the unit price of good B is $5. If an individual has income of S30, which of the following consumption bundles of (good A. good B) is on the edge of the budget constraint? A) (5,5) (5,4) D (6.5) As indifference curves move northeast or away from the origin, bundles of goods along indifference curves yield A) lower utility B) the same utility. C) higher utility. D) utility that is sometimes higher, sometimes the same, and sometimes lo 28. wer

Explanation / Answer

24) c - satisfying infinite wants with limited resources.

25) D - no investors can persistently outperform the market.

according to the efficient market hypothesis beating the market is impossible.

26) A - people feel poorer because of lower stock prices and thus spend less.

27) B

$2Ax5+$5Bx4= $30

28)C -higher utility.

as we know that higher indifference curve away from the origin shows a higher level of satisfaction.

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