chap04 - Macroeconomics,3e(Williamson) Chapter4 Consumer 1)...

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  Macroeconomics, 3e  (Williamson)  Chapter 4   
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Consumer  1) 
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dynamic decision is one that  A) 
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is made very  quickly.  B) 
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involves only  the present.  C) 
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involves only  the future.  D) 
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involves  planning over more than one time period.  Answer:  
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Question Status:  
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Previous Edition 2) 
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A static  decision is one that  A) 
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is made very  slowly.  B) 
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involves  planning over one time period.  C) 
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involves  planning over exactly two time periods.  D) 
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involves  planning over more than one time period.  Answer:  
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Question Status:  
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Previous Edition 3) 
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We  typically assume that  A) 
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both  consumption and leisure are normal goods.  B) 
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consumption is  a normal good and leisure is an inferior good.  C) 
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consumption is  an inferior good and leisure is a normal good.  D) 
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both  consumption and leisure are inferior goods.  Answer:  
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Question Status:  
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Previous Edition 4) 
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The  principle that consumers and firms optimize  A) 
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is not helpful  because some economic agents may behave irrationally.  B) 
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is helpful  because it  allows us to analyze how economic agents respond to changes in their environment.  C) 
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only applies to  perfectly competitive markets.  D) 
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is helpful  because it determines the available technology.  Answer:  
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Question Status:  
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Previous Edition 5) 
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chap04 - Macroeconomics,3e(Williamson) Chapter4 Consumer 1)...

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