When a person does NOT have to pay the full costs for using a scarce resource, then
A. the social costs of the resource are less than they would be if the "correct" amount of the resource were being used.
B. the internal costs of using the resource are too high.
C. more of the resource will be used.
D. the use of the resource is not affected since society pays for the resource.
Answer: C
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One argument offered by economists for having a Social Security system is that if there were no Social Security, workers might
A. overestimate the value of retirement. B. save too much. C. work too long. D. not fully comprehend how hard it might be to continue working into their 70s.
If the real interest rate falls, other things being the same, the quantity of loanable funds demanded ________ and the quantity of loanable funds supplied ________
A) does not change; decreases B) increases; increases C) increases; decreases D) decreases; does not change E) decreases; decreases
In order to formulate whether or not the alternative hypothesis is one-sided or two-sided, you need some guidance from economic theory
Choose at least three examples from economics or other fields where you have a clear idea what the null hypothesis and the alternative hypothesis for the slope coefficient should be. Write a brief justification for your answer. What will be an ideal response?
A contractionary fiscal policy will reduce a government budget deficit or increase a government budget surplus and lower the quantity of bonds the government must sell.
a. true b. false