Which of the following is true of bureaus?
a. They are highly sensitive to consumer feedback.
b. They create laws to govern the functioning of an economy.
c. They control the money supply in the economy.
d. They implement the laws created by the government.
d
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What is a Giffen good?
What will be an ideal response?
When the isocost line is tangent to the isoquant, then
A) MPL = MPK. B) the firm is producing that level of output at minimum cost. C) the firm has achieved the right economies of scale. D) All of the above.
Robert got a new job and relocated to a different city. He initially decided to rent a small apartment close to his office
However, he decided to live in a much bigger and costlier apartment when he found out that his employer will pay him a house rent allowance. This is an example of ________. A) adverse selection B) moral hazard C) the prisoners' dilemma D) the free-rider problem
Maurice loses his job and decides to sit on the beach rather than looking for work the next few months. Other things the same, the unemployment rate
a. increases, and the labor-force participation rate is unaffected. b. increases, and the labor-force participation rate decreases. c. decreases, and the labor-force participation rate increases. d. decreases, and the labor-force participation rate decreases.