The statement "Households maximize utility" means that households
A) try to be as useful as possible to the economy
B) are only interested in maximizing their earnings
C) are assumed to buy useful things before they buy luxuries
D) are only interested in acquiring material wealth
E) are assumed to do what they think will increase their satisfaction
Correct Answer:
Verified
Q1: Mark and Charles are roommates at college.Each
Q2: Households act as demanders when they demand
A)that
Q3: Households act as suppliers when they provide
A)goods
Q4: The term "utility" means
A)satisfaction
B)a low-valued good
C)productivity
D)adaptability
E)efficiency
Q5: If the real wage decreases, the opportunity
Q7: Which of the following is one of
Q8: The objective of the household is to
A)maximize
Q9: Roxanne and Eileen live in an apartment
Q10: Which of the four types of economic
Q11: Economists generally assume that
A)firms act to maximize
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