John has been trying to find a job for the past six months. He went for an interview at Aqua Inc Although his performance was better than that of all the other candidates, the interview board rejected him thinking that they must be missing out on
something about him that other employers have noticed and hence, have not hired him. A(n) ________ has occurred in this case. A) positive externality
B) negative externality
C) moral hazard
D) information cascade
D
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If the Fed were required to maintain an absolutely constant growth rate of high-powered money, then the growth rate of the money supply
A) would be zero. B) would be constant at the growth rate of H. C) would be constant but not necessarily at the growth rate of H. D) would fluctuate along with the parameters in the money-creation formula.
Tax laws do not give preferential treatment to some kinds of retirement saving
a. True b. False Indicate whether the statement is true or false
The short-run supply curve for a firm in a perfectly competitive market is
a. horizontal. b. likely to slope downward. c. determined by forces external to the firm. d. the portion of its marginal cost curve that lies above its average variable cost.
The following table shows John's total utility derived from billiards and bowling games. Assume John has $30 to spend on a game of billiards and/or a game of bowling. A game of billiards costs him $4, and a game of bowling costs him $2. Which of the following is John's utility-maximizing combination of the games of billiards and the games of bowling? Quantity Total Utility Games of billiards Games of bowling 0 0 0 1 100 70 2 180 130 3 240 180 4 272 210 5 288. 218 6 292. 222
a. ?Twelve games of bowling b. ?Five games of billiards and two games of bowling c. ?Four games of billiards and four games of bowling d. ?Five games of billiards and five games of bowling e. ?Three games of billiards and eight games of bowling