With a rise in the stock market, the simple LCH model with no bequests predicts ________ in current consumption. Then when adding to the model bequests due to catastrophic illnesses and expenses that fail to occur, current consumption is ________
A) a fall, still predicted to fall
B) a fall, predicted to rise
C) no change, predicted to rise
D) a rise, still predicted to rise
E) a rise, predicted to remain unchanged
E
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Markets for pollution rights:
a. have never been tried in the United States. b. assign property rights to those who value them least. c. allow the government to assign property rights. d. enable those who value them most to pollute.
In which of the following cases will centralization of decision making be appropriate?
a. When different departments in an organization function separately without much interrelation. b. When information necessary for the decision making process originates from a variety of sources. c. When the organization expands in size and its activities become more complex. d. When all the information comes from an external source.
If there is a negative externality associated with the production of chewing gum, then the most efficient allocation of resources in gum production occurs at the intersection of the
a. demand curve and the private cost curve b. demand curve and the externality curve c. demand curve and the social cost curve d. social cost curve and the private cost curve e. private cost curve and the externality cost curve
According to the IGM poll, what percentage of economists polled agreed that the unemployment rate at the end of 2010 was lower with ARRA than without?
a. 97% b. 75% c. 19% d. 3%