The holdout problem arises when unanimous approval among members of a group is required_____
a. for a Pareto efficient move to occur
b. for a Pareto superior move to occur
c. for government to decide to undertake the project
d. for government to be able to levy the tax to fund the project
b
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The U.S. dollar is the most important reserve currency in the world
a. True b. False Indicate whether the statement is true or false
The Federal Reserve decides to lower the discount rate. The resulting economic change will be represented by a(n): a. upward movement along the short-run Phillips curve. b. downward movement along the short-run Phillips curve. c. rightward shift of the short-run Phillips curve
d. leftward shift of the short-run Phillips curve.
Which of the following will most likely accompany an unanticipated increase in short-run aggregate supply?
a. an increase in real GDP b. an increase in the general level of prices c. an increase in the actual rate of unemployment d. an increase in the natural rate of unemployment
When the price of a product is increased 10 percent, the quantity demanded decreases 15 percent. The price-elasticity of demand coefficient for this product is
What will be an ideal response?