A pure private good is such that
A. exclusivity holds, but rivalry does not.
B. neither rivalry nor exclusivity hold.
C. both rivalry and exclusivity hold.
D. rivalry holds, but exclusivity does not.
Answer: C
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During an economic expansion, the demand for money ________ because ________
A) decreases; nominal GDP increases B) increases; real GDP increases C) increases; nominal GDP does not change D) does not change; people make more purchases with credit cards E) decreases; real GDP increases
If the quantity supplied stays the same no matter what the price is, then supply is
A) perfectly inelastic. B) perfectly elastic. C) unit elastic. D) undefined.
Discuss some of the implications of rational expectations
What will be an ideal response?
Which of the following examples would most likely be subject to survivor bias?
A. a study that randomly sampled men and women who suffered food poisoning from dining at a specific fast-food restaurant chain to determine the incidence of continued patronage of that particular chain of restaurants B. a study that randomly sampled flood victims whose homes were destroyed to see if they were likely to rebuild their homes on the same property C. a study that randomly sampled first-year law-school students to see how many survived to make it to their second year in law school D. a study that randomly sampled an equal number of 40-year old men and 60-year old men to measure incidences of Type 1 diabetes