In traditional economic theory, consumers are assumed to be rational, which means that they:

A) attempt to maximize utility, subject to a budget constraint, and they do so with a limited knowledge about prices.
B) have full knowledge of prices and attempt to maximize utility, subject to a budget constraint.
C) look to maximize utility, often without regard to income or prices.
D) behave in unpredictable but observable ways of choosing goods and services.

Negotiators faced with unstable circumstances should include ____________ in their contracts that allow for easy cancellation or neutral arbitration.

Probate is the process of what?

A) Reading a will
B) Distributing bank assets
C) Reading a trust
D) settling an estate
E) changing property into someone's name

Permanent accounts carry their balances into the next accounting period.

Ellsworth's utility function is U(x, y)  minx, y.Ellsworth has $150 and the price of x and the price of y are both $1.Ellsworth's boss is thinking of sending him to another town where the price of x is $1 and the price of y is $2.The boss offers no raise in pay.Ellsworth, who understands compensating and equivalent variation perfectly, complains bitterly.He says that although he doesn't mind moving for its own sake and the new town is just as pleasant as the old, having to move is as bad as a cut in pay of $A.He also says he wouldn't mind moving if when he moved he got a raise of $B.What are A and B?

A) A  50 and B  50.
B) A  75 and B  75.
C) A  75 and B  100.
D) A  50 and B  75.
E) None of the above.

Under the CISG, if the buyer fails to perform contractual obligations, the seller may require the buyer to do all of the following except:

A) pay the price.
B) take immediate delivery.
C) perform the contractual obligations within a reasonable time.
D) pay damages.