Refer to Table 2-13. What is Horace's opportunity cost of grooming a dog?
A) half a bathed cat B) two bathed cats
C) one and a half bathed cats D) two-thirds of a bathed cat
D
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Suppose the following information describes the economy:Household saving300Business saving700Government purchases1,000Government transfers and interest payments500Government tax collections1,500GDP5,000Private saving equals ____and national saving equals ________.
A. 1,000; 1,000 B. 700; 0 C. 1,000; 2,000 D. 300; -200
One of the major lessons learned in the chapter on experiments and quasi-experiments
A) is that there are almost no true experiments in economics and that quasi-experiments are a poor substitute. B) you should always use TSLS when estimating causal effects in quasi-experiments. C) populations are always homogeneous. D) is that the insights of experimental methods can be applied to quasi-experiments, in which special circumstances make it seem "as if" randomization has occurred.
In the case of global pollution, the Nash equilibrium shows that if one nation does not regulate its pollution, other nations:
a. will have to regulate even more strictly. b. will not regulate either because of international price competition. c. will regulate but will bring charges in the WTO against the other . d. will regulate, so they will not harm their own citizens.
Curly told Larry about his new business venture: Curly pays Acme International $1,000 per month for supplies, works out of his apartment on his own computer and earns a monthly revenue of $1,500. Should Larry quit his job and do what Curly is doing?
A. Yes, as long as Larry has at least $1,000 in savings to get started. B. Not if Larry is earning more than $500 per month at his current job. C. Yes, as long as Larry can work out if his apartment and owns a computer. D. Not unless Larry can borrow the $1,000 monthly payment at no interest.