When trying out for the football team, the coach may have candidates run a lap around the track. This is an example of:
A. signaling.
B. training.
C. strength building.
D. screening.
Answer: D
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Refer to Figure 10-2. Which of the following is consistent with the graph depicted above?
A) New government regulations decrease the profitability of new investment. B) The government runs a budget surplus. C) An expected expansion increases the profitability of new investment. D) There is a shift from an income tax to a consumption tax.
In which of these years was there very high inflation and a recession?
A. 1937 B. 1980 C. 1990 D. 2001
If the marginal utility of the 3rd cup of coffee is 23 and the marginal utility of the 4th cup is 15, then:
A. it is optimal for the consumer to have 4 cups of coffee. B. it is optimal for the consumer to have 3 cups of coffee. C. the price of a cup of coffee must be relatively low. D. there is evidence of diminishing marginal utility.
If demand for a good is elastic, then the price elasticity will be:
A. equal to one. B. equal to zero. C. greater than one. D. less than one.