Which of the following is a question that an economist would use to break down a problem?
A. Will the average income per person for the society increase?
B. Does the decision maker have a track record of being rational?
C. Is there a scarce resource that will be allocated?
D. How might one person feel about the solution to the problem?
C. Is there a scarce resource that will be allocated?
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Non-credible threats that are made in a Nash equilibrium (that is not subgame perfect) of a sequential game cannot be made in the first stage by the player who begins the game.
Answer the following statement true (T) or false (F)
A bank has no excess reserves and demand deposit liabilities of $100,000 when the required reserve ratio is 20 percent. If the reserve ratio is raised to 25 percent, the bank's excess reserves will now be
A) -$5,000. B) -$1,000. C) $1,000. D) $5,000.
Which of the following does NOT cause a rightward shift in the supply curve?
A) a reduction in resource costs B) an increase in technology C) a reduction in the price of the good D) a reduction in the expected future price of the good
What is the difference between nominal and effective tax rates? What creates the distinction?
What will be an ideal response?