The probability of an event is the:
A) time taken for the event to occur.
B) frequency at which the event occurs.
C) net benefit to society from the event.
D) total number of economic agents affected by the event.
B
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When many banks fail simultaneously, this is known as a
a. run on the bank b. depression c. recession d. banking panic e. Federal Reserve crisis
Ethyl does not like redheads and refuses to hire any at her business. Paul was the perfect job candidate on paper, but the personal interview revealed that he was a redhead. Are there any costs to Ethyl for not hiring Paul?
When Toyota introduced the new Prius in the United States, which of the following occurred?
A The hybrid car was not as successful as expected. B The costs of manufacturing were too high and Toyota had to stop production. D All of the above C Toyota confronted the risk of making large investments and the uncertainly over future oil prices.
If the current level of GDP is below full employment, the level of GDP can be raised by:
A. increasing the money supply. B. raising taxes. C. reducing government spending. D. raising the interest rates.