The person hired by a corporation's board of directors to run the day-to-day operations of the corporation is known as the
A) chairman of the board.
B) chief executive officer.
C) owner-manager.
D) corporate governor.
Answer: B
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If an external benefit is present in the consumption of a good or service, then
A) there can be no external cost. B) the marginal social benefit is greater than the marginal private benefit. C) the marginal social benefit is equal to the marginal private benefit. D) the marginal private benefit is equal to the marginal social benefit plus the marginal external benefit. E) the marginal external benefit is equal to the marginal private benefit minus the marginal social benefit.
Which of the following is true of an extensive-form game?
A) The sum of the payoffs to the players in the game is always constant. B) It involves simultaneous decision making by the players. C) It involves sequential decision making by the players. D) The players in the game earn equal payoffs in equilibrium.
Suppose Chelsea reads two news articles about future house prices. The first article predicts that house prices will fall next month, and the second predicts that house prices will rise next month. Valerie reads the same two articles, but she first reads the one that predicts that house prices will rise, and then reads the one that predicts that house prices will fall. If Chelsea and Valerie know very little about future house prices, and each uses anchoring and adjustment to form her assessment, then, all else equal, which of them is more likely to think that house prices will rise next month?
A. They will both think that house prices will stay the same B. They are both equally likely to think that house prices will rise C. Valerie D. Chelsea
Keynesian theory is based on the hypothesis that
A. saving is influenced primarily by real current disposable income. B. planned savings equal planned investment only at full employment. C. saving is always equal to savings. D. saving is influenced primarily by the interest rate.