________ is a company that obtains funds primarily from wealthy investors and uses the funds to make complicated, often risky investments
A) A mutual fund
B) A pension fund
C) A hedge fund
D) An investment bank
C
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Which of the following provides support for the use of discretion in economic policy-making?
A) any policy rule that is based on a particular model will prove wrong if that model is wrong B) the existence of a political business cycle C) the conclusions of Friedman and Schwartz with respect to monetary and fiscal policy D) the Watergate scandal
Denise is thinking about setting up a butterfly garden in her backyard. She estimates that it will cost her $2,000 to purchase and install special plants and an irrigation system to attract butterflies. The benefit she expects to receive is $1,800 . In addition, neighbor Billy will receive a benefit of $150 and neighbor Sammy will receive a benefit of $100 . From this, we can conclude that
a. butterflies are a negative externality for Billy and Sammy b. Denise will set up the butterfly garden without any help from her free-rider neighbors c. if Sammy refuses to contribute to the butterfly garden, he will be unable to enjoy its benefits if it is built d. if Billy refuses to contribute to the butterfly garden, Denise will not have one e. if Billy and Sammy contribute the amounts at which they value the butterfly garden, Denise will set it up. Otherwise, no garden.
Using the above table, the marginal utility for the sixth glass of water is
A. -5 utils. B. 260 utils. C. 255 utils. D. 5 utils.
A less costly alternative to protection of national defense industries would be a production subsidy
Indicate whether the statement is true or false