If both supply and demand increase, then the change in equilibrium quantity is indeterminate
a. True
b. False
B
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"It doesn't hurt to get more information . . ." is good advice
a. especially when the opportunity cost of acquiring the information is high b. when information is less than perfect c. only if the marginal benefit of information is greater than the marginal cost of information d. only if the marginal benefit of information is equal to the marginal cost of information e. only if the marginal benefit of information is less than the marginal cost of information
An example of unplanned investment is
a. an unexpected fire requires that an entire factory be rebuilt. b. a bridge collapses and requires unexpected repair cost. c. machine tool companies are forced to install new equipment to be able to meet Japanese competition. d. None of these.
What are the two distinguishing characteristics of a public good?
a. nonrivalry in consumption and nonexcludability b. indivisibility in production and excludability of nonpaying customers c. provision by government and funding through taxation d. mass production and comparative advantage
Which of the following results in the greatest present value if the interest rate is 10%?
a. A perpetuity that pays $10 per year. b. One hundred dollars tomorrow. c. A payment of $111 at the end of this year. d. One hundred dollars today.