Economists feel that national security concerns never provide a legitimate rationale for trade restrictions
a. True
b. False
Indicate whether the statement is true or false
False
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"Lower ticket prices would lead to more people attending ballgames." This statement is a
A) macroeconomic statement. B) statement assessing the social interest versus the private interest. C) normative statement. D) statement that confuses marginal cost and sunk cost. E) positive statement.
An example of moral hazard is
a. workers working diligently even though the boss is not looking b. health care insured workers dieting and exercising c. drivers of safer cars texting on their phones while driving d. borrowers investing their loan proceeds exactly as the bank requires
Which of the following statements best completes the sentence, "All other factors constant, as the nominal interest rate increases, the opportunity cost of money..."?
A. decreases, the velocity of money decreases, and the quantity of money people want to hold decreases. B. increases, the velocity of money increases, and the quantity of money people want to hold decreases. C. decreases, the velocity of money increases, and the quantity of money people want to hold decreases. D. increases, the velocity of money decreases, and the quantity of money people want to hold decreases.
Frank is purchasing products C and D in utility-maximizing amounts. If the price of C is $4 and the price of D is $2, then:
A. the marginal utility of D is twice that of C. B. the marginal utility of D is the same as that of C. C. the marginal utility of C is twice that of D. D. the marginal utility of C is four times that of D.