Credit-driven bubbles ________
A) occur exclusively within the financial sector
B) are more likely to be identified by central bank officials than by market participants
C) are best contained with a policy of high real interest rates
D) are harder to identify than expectations-driven bubbles
B
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Risk taking
A. is economically wasteful. B. is a cause of income inequality. C. is not a cause of income inequality. D. evens out income inequality because of the bell curve.
At a fair carnival roulette wheel, a player can either win $10, $30, or $80 . If the player were to be made indifferent between playing the game or not, how much should the owner charge him?
a. $30 b. $40 c. $50 d. $80
If a good is normal, then the Engel curve:
A. slopes upward. B. slopes downward. C. is vertical. D. is horizontal.
Refer to the table above. If the market is perfectly competitive, what is Buyer 3's consumer surplus?
A) $0 B) -$1 C) $1 D) $2