Which of the following is an example of a fiscal policy initiative?
a. Lowering of interest rates.
b. Increase in reserve requirements.
c. Reduction in taxes.
d. Decrease in money supply.
c
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In the above table, the inflation rate between 2014 and 2015 is approximately
A) 10 percent. B) 11 percent. C) 121 percent. D) None of the above answers is correct.
The direct benefits of out-migration to a developing nation include:
(a) Loss of skilled workers. (b) Increased remittances. (c) Job growth. (d) Larger capital formation.
The law of small numbers describes:
A) the tendency for people to overstate the probability associated with rare events. B) the ability to correctly estimate the expected outcome from a small number of events. C) the higher probability that small numbers (like 1, 2, and 3 ) occur in random samples relative to large number (like 8 or 9 ). D) the improved accuracy of averages to estimate relatively small numbers (on the order of 1 or 10 ) than relatively large numbers (on the order of 1,000 or 10,000 ).
Game theory is:
A. the study of how people behave strategically under different circumstances. B. used to predict the winners of only certain types of strategic games. C. used to evaluate the microeconomic choices that involve probabilities of different outcomes. D. the study of games of chance like solitaire or betting on horse races.