Season tickets entail a certain amount of risk due to unpredictable team quality, injuries, weather, and so forth. Who is most likely to purchase season tickets?
A) Sally, who is a rabid fan and is not wealthy
B) Jim, who is a rabid fan and is risk neutral
C) Roger, who is a rabid fan but is risk averse
D) Jenn, who is a fan and is very wealthy
B
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In the long run, in a monopolistically competitive market, price will be
A) equal to MR. B) equal to MC. C) greater ATC. D) equal to ATC.
When marginal revenue equals price for all levels of output, the firm is operating in a perfectly competitive market
a. True b. False
Education generates three types of external? benefits: A. Workplace? externalities, civic? externalities, and? free-rider externalities. B. Pollution? externalities, median-voter? externalities, and? free-rider externalities. C. Pollution? externalities, civic? externalities, and crime externalities. D. Workplace? externalities, civic? externalities, and crime externalities.
Education generates three types of external benefits:
A.
Workplace externalities, civic externalities, and free-rider externalities.
B.
Pollution externalities, median-voter externalities, and free-rider externalities.
C.
Pollution externalities, civic externalities, and crime externalities.
D.
Workplace externalities, civic externalities, and crime externalities.
Why wasn't the stimulus passed in 2009 effective in reducing unemployment during the recession of 2009-10?
A) Congress cut the size of the final package, it was skewed toward tax cuts, and it was only 25% of the amount needed to restore GDP to full employment. B) The administration mismanaged it—and it was much too large. C) Fiscal policy is ineffective in a liquidity trap. D) Tax cuts and interest rate cuts would have been effective, but they were politically undesirable.