Consider two people involved in a marriage or relationship. If, when one person is caught cheating on their agreement, the other divorces or leaves them, then they are using a:
A. tit-for-tat strategy.
B. grim-trigger strategy.
C. dominant strategy.
D. predatory strategy.
Answer: B
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Producing leather creates external costs in the form of water pollution. The figure above illustrates the market for leather. If the government sets a pollution limit that achieves efficiency, how many tons of leather are produced?
A) 0 tons B) 200 tons C) 300 tons D) more than 300 tons E) more than 0 tons and less than 200 tons
In the economic way of thinking, a tropical rainforest is a scarce good. Thus,
A) there is no substitute for a tropical rain forest. B) there is a substitute for a tropical rain forest. C) tropical rains forests should be preserved at any cost. D) tropical rain forests can be preserved at no cost. E) economists don't like tropical rainforests.
An economic forecast will always yield an accurate forecast
Indicate whether the statement is true or false
When using equity financing, firms run the risk of ________.
A) losing a controlling interest to shareholders B) acquiring capital through the sale of shares C) incurring an unmanageable amount of debt D) falling victim to currency exchange rates