Using hindsight to judge whether buying insurance was a good idea or not:
A. is commonly used by people who wish to buy insurance in the future.
B. is the only way to properly measure the true cost of the insurance and its benefit.
C. can prove that a good decision at the time was really not worth it.
D. is not a good idea; you have to measure the decision considering the information available at the time.
Answer: D
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Government spending plays no role in meeting our social and public needs.
Answer the following statement true (T) or false (F)
Suppose that from a new checkable deposit, First National Bank holds two million dollars in vault cash, eight million dollars on deposit with the Federal Reserve, and nine million dollars in excess reserves
Given this information, we can say First National Bank has ________ million dollars in required reserves. A) one B) two C) eight D) ten
According to Figure 6.1, in postwar U.S history ________
A) productivity growth was always exceeded by labor growth B) labor growth has always exceeded capital growth C) productivity growth has always exceeded capital growth D) output growth has always exceeded productivity growth
Discuss and show graphically how an increase in consumption at each level of GDP effects saving.
What will be an ideal response?