Refer to Scenario 17.1. If the threshold educational level y* is set at 7,
A) only individuals in Group A will attain it.
B) only individuals in Group B will attain it.
C) individuals in both groups will attain it.
D) no individuals will attain it.
E) some fraction of individuals in each group will attain it.
C
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Banks can make loans up to an amount equal to their
A) total deposits. B) total reserves. C) required reserves. D) excess reserves. E) total government securities.
A mechanism for reallocating risk is:
A. risk premiums. B. dividend pooling. C. diversification. D. All of these are mechanisms for reallocating risk.
Cross-price elasticity of demand is a measure of the extent to which a change in the price of one good can shift the quantity demanded for another good
a. True b. False Indicate whether the statement is true or false
In an economic expansion, people used their charge cards to purchase many goods. Now the economy is in a recession and people must use much of their reduced incomes to pay back debts. If employees manufacturing the goods people used to buy are laid off, they will suffer from:
A. cyclical unemployment. B. structural unemployment. C. permanent unemployment. D. frictional unemployment.