Charitable donations to the Red Cross
A) can be explained by the rational ignorance theory.
B) can be explained by the rational self-interest theory.
C) cannot be explained by the rational self-interest theory.
D) prove that there is no scarcity in the United States.
Answer: B
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Economics is the only social science and the only business discipline for which the Nobel Prize is awarded.
a. True b. False
Which of the following is NOT a part of the income approach to determining GDP?
A) rental income B) gross private domestic investment C) net interest D) indirect business taxes
The theory of education that states firms use educational attainment as a way of sorting between high-ability and low-ability workers is called
Given the following formula for the Taylor rule:Target federal funds rate = natural rate of interest + current inflation + 1/2(inflation gap) +1/2(output gap) If output in the economy were to fall by an additional one percent below potential, the target federal funds rate would:
A. Increase by 1.5%. B. Remain at 2.5%. C. Decrease by 0.5%. D. Decrease by 1.5%.