Which of the following was NOT an issue that the United States. had with the Kyoto Protocol?
a. Major U.S. trading partners (such as China and India) are exempt from the provisions—not fair!
b. Europe's targets were set ridiculously low.
c. We don't really know if pollution causes global warming.
d. There are less costly ways to deal with environmental problems.
Ans: b. Europe's targets were set ridiculously low.
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P-TV and QRS-TV are trying to decide whether to air a sitcom or a reality show in a given time slot. Viewers like both sitcoms and reality shows, but sitcoms are more expensive to produce than reality shows since real actors need to be hired. QRS-TV makes its decision first, and then P-TV observes that choice before making its decision. Both stations know all of the information in the decision tree below. 
In the equilibrium of this game:
A. both stations will air sitcoms. B. QRS-TV will air a reality show and P-TV will air a sitcom. C. both stations will air reality shows. D. QRS-TV will air a sitcom and P-TV will air a reality show.
Which of the following ensures that you'll find the goods and services that you're looking for?
A. Government and the rule of law B. Markets and banks C. Government and incentives D. Markets and incentives
In evaluating a relationship between x and y, ceteris paribus means other variables
A) are not relevant to x and y. B) move in opposite directions to x and y. C) are not changing while x and y change. D) move in the same direction as x and y.
The theory of rational expectations suggests that
A) people never make forecast errors. B) people make intelligent use of available information. C) people make systematic forecast errors. D) people are slow to incorporate new information into their forecasts.