Which of the following environmental problems are largely caused by persistent poverty?
(a) Deforestation.
(b) Soil erosion.
(c) Ground water contamination.
(d) All of the above.
D
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The money multiplier is equal to
A) the government spending multiplier. B) 1/(reserve ratio). C) the marginal propensity to consume. D) the reserve ratio.
An arrangement in which Kathleen sells some of her barley when it is planted, with the promise to deliver it and receive payment after it is harvested, is called
A) a savings contract. B) a deferred private bond. C) a futures contract. D) a commodity transfer.
Define the following terms completely and concisely
a. marginal revenue b. average revenue c. optimal decision d. satisficing e. marginal profit
A dominant strategy is one that:
A. maximizes profits. B. is optimal under some conditions. C. never yields a negative payoff. D. is the best choice under all conditions.