When supply decreases and the supply curve shifts to the left, equilibrium price ________ and equilibrium quantity ________
A) increases; decreases B) decreases; increases
C) decreases; decreases D) increases; increases
A
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In a(n) __________ insurance policy, the savings component pays a money market rate of interest that changes with market conditions
A) whole B) term C) universal D) variable
Cheap talk works at placing workers in the right job as long as
A) the interests of the worker and the firm coincide. B) all workers want the most demanding jobs regardless of their abilities. C) workers have different ability levels that are unknown to firms. D) firms are not profit maximizers.
The formulae for the AIC and the BIC are different. The
A) AIC is preferred because it is easier to calculate B) BIC is preferred because it is a consistent estimator of the lag length C) difference is irrelevant in practice since both information criteria lead to the same conclusion D) AIC will typically underestimate p with non-zero probability
According to the law of supply, if the price of calculators decrease, the supply of calculators will decrease, everything else held constant
a. True b. False Indicate whether the statement is true or false