Researchers have found that countries that were settled by Europeans who planned on staying permanently were
a. more likely to protect private ownership rights and limit the power of the government.
b. less likely to protect private ownership rights and limit the power of the government.
c. more likely to protect private ownership, but less likely to limit the power of the government.
d. less likely to protect private ownership, but more likely to limit the power of the government.
A
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Suppose the CPI has been overstating the increase in the cost of living by 1% for 25 years, the total impact of that 25 years later is
a. less than 25% b. exactly 25% c. negligible since it is only 1% per year d. more than 25% e. 24%
According to the above table, the equilibrium price of earbuds is
A. $16. B. $10. C. $12. D. $14.
Which of the following is not an example of the issue of time inconsistency?
A) a central bank announced to maintain low inflation and at the same time increased money supply B) a government stated that they will not negotiate with hostage takers. When someone is taken hostage, it negotiates C) a mom says to her kids no cookie before meals and she never gives cookies before her kids eat their meals D) a person on diet eats ice cream for dinner
The law of diminishing marginal utility states that
A) the extra satisfaction from consuming a good decreases as more of a good is consumed, other things constant. B) when the extra satisfaction from consuming a good becomes negative, total utility starts falling, other things constant. C) eventually total utility falls as more of a good is consumed, other things constant. D) the extra satisfaction from consuming a good increases slowly as more of a good is consumed, other things constant.