John has to choose between a camping holiday and a holiday in Las Vegas. If he evaluates the total net benefit of both alternatives before coming to a decision, he is using the technique of:
A) ordinal analysis. B) optimization in levels.
C) optimization in differences. D) marginal analysis.
B
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An example of moral hazard is
a. workers working diligently even though the boss is not looking b. health care insured dieting and exercising c. drivers of safer cars texting on their phones while driving d. borrowers investing their loan proceeds exactly as the bank requires
Joe is one mile from the finish of a grueling 26 mile marathon. Tim is at the four mile mark of a five mile run. Which runner is most likely to be emotionally energized for the race to the finish line?
A. Joe. B. Joe and Tim should be equally energized. C. Tim. D. Without knowing more about the runners there is no way to predict which runner will be most energized.
Aggregate demand will decrease when there are
A. decreases in government spending. B. increases in consumer and business confidence. C. increases in inflationary expectations. D. decreases in the price level.
Argentina's experience since 1990 suggests that adopting a currency board imposes strict discipline on the country's fiscal policies.
Answer the following statement true (T) or false (F)