If the risk associated with a particular outcome is ________, or the value of a particular outcome is ________, then cost-benefit analysis might lead people to indulge in too much risk
A) overestimated, overestimated
B) overestimated; underestimated
C) underestimated; overestimated
D) underestimated; underestimated
C
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Which of the following products would be sold in a competitive market?
A) smartphones B) shoes C) Brent crude oil D) motorcycles
Because the Soviet Union educated more scientists and engineers than the United States, their level of economic growth was higher.
Answer the following statement true (T) or false (F)
Which of the following is true of the Golden Age of fiscal policy of the 1960s? a. Fiscal policy was used to prevent output from expanding in 1964
b. Lyndon B. Johnson cut income tax rates to reduce inflationary pressures in the economy c. A tax cut was introduced to increase savings and unemployment. d. A tax cut increased disposable income and consumption. e. The unemployment rate rose by 5 percent for the first time in seven years
To avoid multiple counting in national income accounts:
A. Only final goods and services should be counted B. Intermediate goods and services should be counted C. Both final and intermediate goods and services should be counted D. Primary, intermediate, and final goods and services should be counted