A commitment device is:
A. an arrangement entered into by an individual with the aim of helping fulfill a plan for future behavior that would otherwise be difficult.
B. a way to deal with time inconsistency.
C. something that helps people conquer their vices.
D. All of these are true.
D. All of these are true.
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Which of the following is NOT included in aggregate demand?
A) Demand for goods and services for consumption B) Investment in business plant and equipment C) Net exports D) Investment in Treasury bonds
Canada produces MP3 players and lumber, and the marginal costs for the two products are $200 per 1,000 board-feet of lumber and $100 per MP3 player
China also produces these goods, and the marginal costs are $300 per 1,000 board-feet of lumber and $100 per MP3 player. Which country has the comparative advantage in lumber production? A) Canada B) China C) Both countries share the comparative advantage. D) We need more information to answer this question.
When a market consists of a few large firms and barriers to entry exist, it:
A. must be perfectly competitive. B. is likely an oligopoly. C. must be monopolistically competitive. D. is likely a monopoly.
Why is the scrotum located outside the body?
A. The atmospheric temperature is lower and is essential for sperm production B. The vas deferens provides a longer pathway for the maturation of sperm C. To keep the testes away from the infective potential of the digestive system D. To protect the testes from abdominal trauma