The cost of an extra unit of coal in Australia in terms of oil given up is
A. 100.
B. 20.
C. 5.
D. 1/5.
C. 5.
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According to A.W. Phillips, an inverse relationship has existed between
A) the inflation rate and unemployment rate. B) the inflation rate and the money supply. C) unemployment and interest rates. D) the rate of growth of the money supply and the unemployment rate.
In 2014, global revenue for IBM was ________ when measured in local currencies than it was when measured in dollars. This occurred because the value of the U.S. dollar ________ relative to most other currencies
A) lower; increased B) higher; increased C) higher; decreased D) lower; decreased
A free rider problem arises when
a. there are very few beneficiaries and exclusion of any one of them is possible. b. there are many beneficiaries and exclusion of any one of them is possible. c. there are many beneficiaries and exclusion of any one of them is impossible. d. there are very few beneficiaries and they all try to use the good simultaneously.
Which of the following statements is not correct?
a. Based on studies of human decision making, most people value fairness. b. Based on studies of human decision making, some people's preference are inconsistent over time. c. Government intervention is the best remedy for the problems caused by asymmetric information. d. Advertising can be an example of a company signaling the quality of its products.