Using hindsight to judge whether buying insurance was a good idea or not:
A. is the only way to properly measure the true cost of the insurance and its benefit.
B. is not a good idea; you have to measure the decision considering the information available at the time.
C. can prove that a good decision at the time was really not worth it.
D. is commonly used by people who wish to buy insurance in the future.
B. is not a good idea; you have to measure the decision considering the information available at the time.
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Which of the following is one reason for the decline in aggregate demand that led to the recession of 2007-2009?
A) falling oil prices B) increases in housing prices C) a decline in government spending D) the financial crisis
People on welfare often face the highest marginal tax rates of anyone because ______
a. of our regressive income tax system b. of the non-deducibility of state sales taxes c. of the loss of entitlement payments when earning additional income d. of increasing marginal utility of income
Suppose an industry has 100 firms, each with supply curve P = 50 + 10Q. Furthermore, suppose the market demand curve is given by P = 200 - 0.9Q. How many units of output will be produced by a firm operating in this market with a MC = 130Q?
A. 5 B. 0.70 C. 2 D. It is impossible to answer with the information given
If most bankers could do what they wanted, they would probably hold reserves of about
A. 0%. B. 2%. C. 7-8%. D. 10-12%. E. 22-25%.