Over time, quotas usually lead to larger deadweight losses than tariffs
Indicate whether the statement is true or false
TRUE
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On the books of the Fed the difference between borrowed reserves and discount loans is equal to
A) excess reserves. B) required reserves. C) currency in circulation. D) zero; they are the same thing.
There are two alternative plans to evacuate a village of 900 people in the path of a deadly hurricane. According to the experiment by Amos Tversky and Danial Kahenman, which program will the majority of participants choose?
If Program A is adopted, there is a 33 percent chance of evacuating all 900 people and a 66 percent possibility of evacuating no one on time. If Program B is adopted, 300 people will be evacuated. a. Program A, because it sounds like it has a greater chance of success. b. Program B, because it sounds less risky. c. Either program, because they have equal predicted outcomes d. Neither program, because neither solves the problem
Which of the following pairs of goods are probably complements?
A. Electricity and natural gas. B. Ketchup and French fries. C. Steak and chicken. D. Butter and margarine.
What is the profit-maximizing condition for the use of a resource?
What will be an ideal response?