Refer to Table 2-5. What is Finland's opportunity cost of producing one cell phone?
A) 0.25 board feet of lumber B) 4 board feet of lumber
C) 12 board feet of lumber D) 16 board feet of lumber
B
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Derivatives can be used to reduce risk but they also can be a source of risk in themselves
a. True b. False Indicate whether the statement is true or false
________ analysis addresses the question of whether a policy should be used, while ________ analysis addresses the economic consequences of a particular policy.
A. Positive; normative B. Fiscal; monetary C. Monetary; fiscal D. Normative; positive
Tracy and Amy are playing a game in which Tracy has the first move at X in the decision tree shown below. Once Tracy has chosen either the top or bottom branch at X, Amy, who can see what Tracy has chosen, must choose the top or bottom branch at Y or Z. Both players know the payoffs at the end of each branch. 
In the equilibrium of this game:
A. Tracy and Amy both get 125. B. Tracy gets 25 and Amy gets 225. C. Tracy gets 300 and Amy gets 200. D. Tracy gets 75 and Amy gets 150.
The primary problem with heuristic models is that:
A. they are too deductive. B. they are not very convincing. C. they do not include enough mathematics. D. it is hard to test their validity.