Signals are
A) used by economic decision-makers to inform others about their plans.
B) the method by which government planners inform economic decision-makers about the types of decisions they should make.
C) the method by which firms determine their profit maximizing quantity.
D) compact ways of conveying to economic decision makers information needed to identify industries where more resources are needed.
D
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An increase in the reserve requirement ________ required bank reserves and ________ the money supply
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
A defendant believes there is a 40 percent chance that the plaintiff will win $1,000,000 and a 60 percent chance that the plaintiff will lose and be awarded nothing (zero). The plaintiff believes that there is a 60 percent chance that they will win $1,000,000 and a 40 percent chance that they will be awarded nothing (zero). The plaintiff's litigation cost is $300,000 and the defendant's
litigation cost is $300,000. Which of the following statements is true? A) The defendant would be willing to pay up to $800,000 to settle. B) The plaintiff would be will to accept any amount greater than $200,000 to settle. C) The plaintiff would be will to accept any amount greater than $300,000 to settle. D) There is no economic incentive for either party to settle.
Which of the following most accurately summarizes the implications of an economy's production possibilities curve?
A. If all the resources of an economy are being used efficiently, more of one good can be produced only if less of another good is produced. B. If all the resources of an economy are being used efficiently, it is generally possible to produce more of one good without having to sacrifice the production of other goods. C. Over time, it is generally impossible for a country to expand its production of goods. D. An economy will automatically move toward a point that lies outside of the production possibilities constraint unless proper government policy constrains production.
Which of the following are examples of experimental economics?
A. computer experiments B. laboratory experiments C. field experiments D. natural experiments