According to the Cost-Benefit Principle, you should spend an additional hour studying for an exam if, and only if,:
A. the benefits of studying for an additional hour are really high.
B. you have time to study for an additional hour.
C. the benefits of studying for an additional hour are higher for you than for anyone else in your class.
D. the benefits of studying for an additional hour exceed the costs of studying for an additional hour.
Answer: D
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Ricardian equivalence will fail to hold if:
A. people increase their spending when they receive a tax rebate check. B. people save, and do not increase their spending when they receive a tax rebate check. C. intended expansionary effects of tax policy fail to occur. D. All of these.
A principal disadvantage of conventional checking accounts compared to money market mutual funds is that checking accounts
a. are less liquid. b. often do not pay interest. c. cannot be used as a store of value. d. are not insured by deposit insurance.
In the ultimatum game, when the allocator and the recipient care about fairness, how is the distribution of $20.00 affected?
a. Allocators receive everything, and recipients receive nothing. b. Recipients usually reject offers of less than a 10 percent share. c. Allocators usually offer recipients a very small share. d. Allocators and recipients always end up sharing the $20.00 equally.
"Regulatory capture" refers to the situation where a government agency charged with supervising and regulating a particular industry is:
A. Strongly influenced by the firms in that industry B. Headed by bureaucrats who have a "lock" on their positions, without any rivals C. Completely dominating the actions of firms in the industry D. Headed by unelected government officials