All students should go on to college.
A. True
B. False
C. Uncertain
C. Uncertain
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An efficient market is one in which
a. no rents are created. b. past prices can be used to predict the levels of future prices. c. the principals can fully monitor the actions of their agents. d. the price fully reflects all available information.
If the yield curve has a mild upward slope, the liquidity premium theory (assuming a mild preference for shorter-term bonds) indicates that the market is predicting
A) a rise in short-term interest rates in the near future and a decline further out in the future. B) constant short-term interest rates in the near future and further out in the future. C) a decline in short-term interest rates in the near future and a rise further out in the future. D) a decline in short-term interest rates in the near future and an even steeper decline further out in the future.
P-TV and QRS-TV are trying to decide whether to air a sitcom or a reality show in a given time slot. Viewers like both sitcoms and reality shows, but sitcoms are more expensive to produce than reality shows since real actors need to be hired. QRS-TV makes its decision first, and then P-TV observes that choice before making its decision. Both stations know all of the information in the decision tree below. 
In the equilibrium of this game:
A. both stations will air sitcoms. B. QRS-TV will air a reality show and P-TV will air a sitcom. C. both stations will air reality shows. D. QRS-TV will air a sitcom and P-TV will air a reality show.
A collective good is one that, to at least some degree, is:
A. consumed by more than one person. B. nonexcludable but rival. C. both nonrival and nonexcludable. D. nonrival but excludable.