The high growth rate in China in the last twenty years has similarities to the high growth rate of ________ during the 1950s and 1960s
A) the United States
B) the Soviet Union
C) Brazil
D) Mexico
B
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When profits are the result of pure luck, they can be distinguished from profits attributable to correct predictions by
A) asking the people who profited. B) finding out whether the profits were earned through effort. C) no known empirical criteria. D) whether or not they were generally anticipated.
Describe, in general terms, the strategy of monetary policy, explaining how monetary-policy tools are used to achieve the goals of monetary policy
What intermediate stages are important in going from tools to goals? What are the links between the different stages? How does the Federal Reserve use this strategy today?
If the price elasticity of demand for football tickets is estimated to be 4.5, then a 10 percent increase in football ticket prices would be expected to cause a:
A. 4.5 percent decrease in quantity demanded. B. 4.5 percent increase in quantity demanded. C. 45 percent decrease in quantity demanded. D. 45 percent increase in quantity demanded.
A dominant strategy exists if:
A. both players make the same choice. B. one strategy yields the highest possible payoff. C. both players have the highest payoff when they make the same choice. D. a player has a strategy that yields the highest payoff regardless of the other player's choice.