In their 1994 book, The Bell Curve, Murray and Herrnstein presented evidence that IQ is an important determinant of economic success
a. True
b. False
Indicate whether the statement is true or false
True
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The ________ is when society enforces property rights, contracts, and other rules based on an established set of laws.
A. rule of one B. rule of man C. rule of law D. rule of force
The major provisions of the Competitive Equality Banking Act of 1987 include
A) expanding the responsibilities of the FDIC, which is now the sole administrator of the federal deposit insurance system. B) the establishment of the Resolution Trust Corporation to manage and resolve insolvent thrifts placed in conservatorship or receivership. C) directing the Federal Home Loan Bank Board to continue to pursue regulatory forbearance. D) prompt corrective action when a bank gets in trouble.
If the cross elasticity between two goods, X and Y, is positive, then we know they are
a. substitute goods b. complementary goods c. unrelated goods d. inferior goods e. normal goods
Which of the following statements is true?
A) Price ceilings set below the equilibrium price cause shortages. B) Surpluses result when a price floor is set above the equilibrium price. C) Price ceililngs set above the equilibrium price cause surpluses. D) Price ceilings are set by the market and price floors are set by the government. E) ?a and b