The Federal Reserve monetary policy goals of maximum employment mean..
What will be an ideal response?
keeping the unemployment rate close to the natural unemployment rate
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The Coase Theorem suggests that negotiations to eliminate an externality allow the resource to
A. stop causing the externality altogether. B. move to the person who values it the most. C. move to the person who needs it the most. D. continue to benefit everyone.
In comparing China to Canada, China's relatively ________ growth rate in GDP would make you more likely to take a job in China, and China's relatively ________ level of GDP would make you less likely to take a job in China
A) low; low B) high; low C) high; high D) low; high
In the signaling theory of education,
a. schooling itself does not lead to more productive workers. b. chance plays more of a role than in the human-capital theory. c. schooling enhances worker productivity. d. compensating differentials do not matter.
Suppose Jack and Kate are at the town fair and are choosing which game to play. The first game has a bag with four marbles in it-1 red marble and 3 blue ones. The player draws one marble from the bag; if it is red, they win $20 and if it is blue, they win $1. The second game has a bag with 10 marbles in it-1 red, 4 blue, and 5 green. The player draws one marble from the bag; if it is red, they win $20; if it is blue, they win $5; and if it is green, they win $1. Both games cost $5 to play. If Jack only cares about expected value, and not risk, he should decide to play a game if:
A. the expected value of the payoff is higher than the expected value of the payoff in the other game. B. the expected value of the payoff is lower than the price to play the game. C. the expected value of the payoff is higher than the price to play the game. D. the expected value of the payoff is double the price to play the game.