Which of the following statements is most accurate?
a. If something is rare it is also has to be scarce
b. Scarcity can and will be eliminated in the short run.
c. Scarcity can and will be eliminated in the long run.
d. Scarcity cannot be eliminated in any time frame.
d
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The Social Security System of 1935 was flawed from the beginning. It left old-age pensions in the control of the states. Two examples include workers' and unemployment compensation
Indicate whether the statement is true or false
If P = domestic prices, P* = foreign prices, and e is the nominal exchange rate, which of the following is implied by purchasing-power parity?
a. P = e/P b. 1 = e/P c. e = P/P d. None of the above is correct.
Suppose Jack and Kate are at the town fair and are choosing which game to play. The first game has a bag with four marbles in it-1 red marble and 3 blue ones. The player draws one marble from the bag; if it is red, they win $20 and if it is blue, they win $1. The second game has a bag with 10 marbles in it-1 red, 4 blue, and 5 green. The player draws one marble from the bag; if it is red, they win $20; if it is blue, they win $5; and if it is green, they win $1. Both games cost $5 to play. The expected value of the payoff is ________ for the first game and ________ for the second game.
A. $4.50; $5.75 B. $5.00; $4.50 C. $5.75; $5.25 D. $5.75; $4.50
The attendees at the FOMC meetings receive information prior to the meetings that is contained in books with colorful names. The information that is released to the public prior to the meetings is from the:
A. Beigebook and Bluebook but not the Greenbook. B. Beigebook only. C. Bluebook only. D. Bluebook and Greenbook, but not the Tealbook.