Whose work resulted in a doomsday forecast?
A. Robert Solow.
B. Thomas Malthus.
C. Karl Marx.
D. Edward Denison.
Answer: B
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Assume that Y is normally distributed N(μ, σ2). To find Pr(c1 ≤ Y ≤ c2), where c1 < c2 and di = , you need to calculate Pr(d1 ≤ Z ≤ d2) =
A) Φ(d2) - Φ(d1) B) Φ(1.96) - Φ(1.96) C) Φ(d2) - (1 - Φ(d1)) D) 1 - (Φ(d2) - Φ(d1))
Refer to Figures d and e. Bundle A is preferred to bundle B in Figure e and not in Figure d because:
A. the MRS between water in a rainy season and during a drought is higher in e than in d.
B. as the probability of a drought increases, consumers are no longer indifferent between the two bundles.
C. as the probability of a drought decreases, water in a rainy season becomes less valuable.
D. consumers are indifferent between bundles A and B as the probability of a drought increases.
A proportional tax is a tax whose rate increases as the tax base widens
a. True b. False Indicate whether the statement is true or false
Zero elasticity in either a supply or demand curve occurs when a price change of one percent results in a quantity change of one percent.
Select whether the statement is true or false. A. True B. False