The opportunity cost of going to the movies is always the same for everyone
a. True
b. False
Indicate whether the statement is true or false
False
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One important difference between early and later Keynesians is that
a. early Keynesians were more skeptical of the use of monetary policy. b. early Keynesians were more skeptical of the use of fiscal policy. c. early Keynesians believed that monetary policy was responsible for the Great Depression. d. early Keynesians thought that fluctuations in investment and not consumption drove the Great Depression. e. both a and d.
GDP has various shortcomings in measuring well-being. Which of the following is not one of these?
A. the value of leisure B. the harm from pollution C. the cost of crime and other social problems D. the production of intermediate goods
The Nasdaq Composite Index is:
A. made up of over 50,000 firms traded on the Over-the-Counter market. B. the most broadly based index in use. C. a price-weighted index. D. made up of mainly newer firms, and heavily influenced by technology and internet companies.
Having worked for many of the firms in the petroleum industry, you know that the price elasticity of demand for a representative firm is about ?1.25. An industry publication recently reported that the Rothschild index for the petroleum industry is estimated to be 0.88. Based on this information, you know that the price elasticity of demand for the firm you currently work for in the petroleum industry is:
A. ?1.10. B. 1.10. C. ?1.42. D. 0.704.