The US Navy determines that the navigation system on its submarines, which use low-frequency radio waves, is reducing the population of humpback whales. The is an example of
A. marginal thinking.
B. comparative advantage.
C. the market mechanism.
D. the Phillips curve.
E. an externality.
Answer: E
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
The present value of a promise to pay $100 one year from now is approximately $90.91 if the interest rate is 10 percent
a. True b. False
In American politics, we often observe that during a campaign, the Democratic and Republican positions on many issues are similar, which illustrates
a. Arrow's impossibility theorem. b. the Condorcet paradox. c. a Borda count. d. the median voter theorem.
An explanatory variable is called exogenous if it is correlated with the error term.
Answer the following statement true (T) or false (F)