Which of the following is not one of the key services provided by the financial system?
A) decreasing taxes
B) risk sharing
C) liquidity
D) generating information
Answer: A
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Refer to the scenario above. In the dominant strategy equilibrium, the payoff to Firm B is ________
A) $1.2 million B) $3.0 million C) $2.5 million D) $2 million
Which of the following is possible in a 2-input production technology.
A. The technology has increasing returns to scale but diminishing marginal product of all inputs. B. The technology has increasing returns to scale but diminishing marginal product of all but one input. C. The technology has decreasing returns to scale but increasing marginal product of one input. D. (a) and (b) E. (a) and (c) F. (b) and (c) G. None of the above H. All of the above
A production possibilities curve depicts
a. combinations of resources the economy has the capacity to produce b. prices that can be charged for capital and consumption goods c. combinations of prices and outputs that can be produced d. combinations of goods the economy has the capacity to produce e. combinations of resources and prices that the economy can produce
Why might the consumer price index overestimate the cost of health care?
a. The quality of healthcare is declining. b. The quality of healthcare is improving. c. The quality of healthcare is constant. d. The quality of health care is unmeasurable.