Which of the following is always TRUE of rational behavior?
A) It always entails pursuing one's own best interest.
B) It always yields the best possible outcome for all individuals.
C) It never involves the pursuit of greedy self-interest.
D) It never involves taking into account the interests of others.
A
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Why can't the expectations hypothesis stand alone as an adequate theory to explain yield curves?
What will be an ideal response?
Which presidential candidate made this pledge: "Read my lips: no new taxes"?
A. Gerald Ford (1974) B. Jimmy Carter (1976) C. Ronald Reagan (1980) D. George H.W. Bush (1988)
What effect does a depreciation of the dollar have on real GDP in the United States in the short run?
A) Real GDP will fall. B) Real GDP will rise. C) Real GDP will be unaffected by the depreciation of the dollar. D) Real GDP will be unchanged, but nominal GDP will rise.
If the quantity of Big Macs demanded falls from 2.0 million to 1.6 million as the price of Whoppers falls from $1.40 to $.80, the cross-price elasticity of demand for Big Macs is:
A. ?2.5. B. 0.4. C. ?0.4. D. 2.5