Asking people to indicate their economic values in a survey is an example of what type of economic valuation?
a. Travel cost method
b. Contingent valuation
c. Hedonic pricing
d. Production function valuation
e. Avoided cost valuation
Ans: b. Contingent valuation
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If the federal government tries to make fiscal policy sustainable by decreasing expenditure on transfer programs such as Social Security, Medicare, and Medicaid, ________ will bear the burden of adjusting fiscal policy, and this will result in a
lower standard of living for those who bear the burden. A) high-income households B) individuals in the labor force C) middle class taxpayers D) the elderly and poor
Which of the following countries had double-digit inflation for most of the years from 2000 to 2010?
a. India b. Iran c. Italy d. Iraq
Which is the most accurate statement?
A. Although no one theory can explain all poverty in the U.S., welfare dependency probably explains most of it. B. Poverty can be explained mainly by the laziness of the poor. C. There is no theory of poverty that really explains much. D. There are many theories of poverty, and while none can explain all poverty, each does explain some of it.
The value of a derivative is determined by:
A. the value of the underlying asset. B. the risk-free rate. C. the Federal Reserve. D. SEC regulation.