When trying out for the football team, the coach may have candidates run a lap around the track. This is an example of:
A. signaling.
B. screening.
C. strength building.
D. training.
B. screening.
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"The fewer the number of substitutes for a product, the more elastic the demand for that product." Is the previous statement true or false?
What will be an ideal response?
The Consumer Price Index was 115 one year and 120 the next year. The rate of inflation from one year to the next was approximately:
A. 2.2 percent. B. 3.4 percent. C. 4.3 percent. D. 2.9 percent.
Which of the following statements about pollution or pollution control is TRUE?
A. The optimum amount of pollution abatement is where the total benefits of pollution abatement equal the total costs of pollution abatement. B. Private costs of pollution usually exceed social costs. C. A tax to reduce pollution levels should be based on the economic damages rather than on the absolute amount of pollution. D. A nationwide uniform tax on emissions is the appropriate way to reduce pollution levels.
(Advanced analysis) If S = -60 + .25Y and I g = 60, where S is saving, I g is gross investment, and Y is gross domestic product (GDP), then the equilibrium level of GDP is:
A. $200. B. $320. C. $360. D. $480.