Which of the following macroeconomic variables is countercyclical?
A) Real interest rates
B) Unemployment
C) Money growth
D) Consumption
B
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Allocative efficiency is achieved when the production is such that
A) the marginal benefit exceeds the marginal cost by as much as possible. B) marginal cost equals zero. C) marginal benefit is equal to marginal cost. D) the production point is on the PPF. E) None of the above is true.
What is the best response of firm B, given firm A is charging a low price?
a. Charge a low price b. Charge a high price c. Charge zero, give the good away d. All of the above
Probably the most important factor affecting material well-being is
a. inflation rates. b. unemployment rates. c. budget deficits. d. growth in productivity. e. monopoly power.
Which of the following relationships involves asymmetric information?
a. A recruiter for a college football team evaluates the performance of a high-school player.
b. A loan applicant knows more about the likelihood her business will be successful than the loan officer.
c. Someone considering buying running shoes looks at a number of online reviews by buyers.
d. All of the above are correct.