Which among the following is an example of "economizing" behavior?
A) A ski resort owner who is deciding whether or not to remain in operation during a season with abnormally low snowfall
B) The board of directors of a major bank who are considering opening new branches in a neighboring state
C) The planning committee of a conservative church parish, which is considering the reintroduction of the Post-Tridentine, Latin-language mass
D) A family comparing the costs of a vacation in the mountains to the cost of a vacation at the beach
E) All of the above.
E
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If we compare the Canadian natural unemployment rate to the U.S. natural unemployment rate, we find that for most years since 1980
A) the Canadian rate is higher, possibly the result of higher unemployment benefits in the United States for most of those years. B) the U.S. rate is higher, possibly the result of greater job search within a larger country. C) they are essentially the same because we have a lot in common. D) the Canadian rate is higher, possibly the result of higher unemployment benefits in Canada for most of those years. E) The U.S. rate is higher, possibly the result of more structural change occurring in the United States.
Which of the following is an implication of the Coase Theorem?
A) Bargaining cannot lead to an efficient allocation of resources. B) Government intervention is not always necessary to solve externality problems. C) Negotiation leads to an efficient outcome if transaction costs are high. D) Taxation leads to an efficient allocation of resources regardless of who holds the property rights.
Which of the following statements about the Euro's exchange rates with Sterling and the U.S. Dollar is true?
(a) The Euro is above parity with both Sterling and the Dollar; (b) The Euro is below parity with the Dollar and above parity with Sterling; (c) The Euro is below parity with Sterling and above parity with the Dollar; (d) The Euro is below parity with both Sterling and the Dollar.
The demand curve for money:
A. shows the amount of money balances that individuals and businesses wish to hold at various levels of private investment. B. reflects the open market operations policy of the Federal Reserve. C. shows the amount of money that households and businesses wish to hold at various rates of interest. D. indicates the amount that consumers wish to borrow at a given interest rate.