If the price of a Brita water filtration system increases and the quantity demanded of bottled water increases, then these two goods are
A) substitutes.
B) complements.
C) normal goods.
D) inferior goods.
E) inelastic goods.
A
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Katy has an ailing and wealthy, but miserly, parent. The parent has told Katy that if she takes care of him until he dies, then she will get $100,000 in inheritance
Katy knows that there is only a 50-50 chance that her father will leave her the full amount or nothing. To take care of her father, she has to take a job that pays $30,000 where her current job pays her $70,000 per year. If her father is expected to pass away in 1 year, what is Katy's expected wealth if she takes care of her father? A) $130,000 B) $90,000 C) $80,000 D) $70,000
When it's not clear how to translate available information into something personally meaningful, it's:
A. more likely you'll make a mistake in your choice. B. more likely you'll invest more time in making your choice. C. less likely you'll make a mistake, given the amount of information. D. less likely the choice will have a big impact on you.
The productivity growth rates of poorer countries tend to be ____ than those of richer countries.
A. higher B. lower C. increasing slower D. decreasing faster
Members of the Federal Reserve Board of Governors are appointed for one fourteen-year term:
A. In an effort to isolate the Fed from political pressures. B. So that Fed decisions will be based on political considerations. C. To give Congress better control over the money supply. D. In an effort to make the Fed responsive to voters.