What impact do tax rebates have?
What will be an ideal response?
They have little impact on consumption.
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Which of the following equations correctly describes the quantity equation in terms ofpercentage rate of change? ? means "change in."
A) %?M÷%?V=%?P x %?Y B) %?M+%?V=%?P+%?Y C) %?M÷%?V=%?Y÷%?P D) %?M x %?V=%?P x %?Y
Consider the Prisoners' Dilemma game, and suppose one player confesses but the other player does not confess. This outcome is
a. a Nash equilibrium. b. Pareto optimal. c. a Pareto improvement over the outcome where both players confess. d. Pareto-inferior to the outcome where neither player confesses.
Which of the following is an example of a normative, as opposed to positive, statement?
a. Universal health care would be good for U.S. citizens. b. An increase in the cigarette tax would cause a decrease in the number of smokers. c. A decrease in the minimum wage would decrease unemployment. d. A law requiring the federal government to balance its budget would increase economic growth.
____________ is a state of preferring a certain return to an uncertain prospect that generates the same expected return.
Fill in the blank(s) with the appropriate word(s).