Refer to Scenario 17.5. If low effort is exerted, expected income is
A) $5000.
B) $5500.
C) $6000.
D) $6500.
E) $7000.
B
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Utility as an economic term refers to
a. the amount of electricity generated. b. the ability of a good to satisfy a want. c. tangible goods only. d. services only.
If Y=C+I+G but Md< Ms, then
a. interest rates must rise and output must fall. b. both interest rates and output must fall. c. interest rates must fall and output must rise. d. both interest rates and output must rise. e. none of the above.
Capital gains are those gains
A. earned from selling an asset prior to its maturity date. B. earned from avoiding tax payments by understating earnings from capital assets. C. earned from purchasing an asset for less than what it is actually worth. D. earned from selling an asset for a price more than what was paid for it.
Which of the following highlights a requirement of a good instrumental variable?
A. It should be included in and endogenous to the equation of interest. B. It should be included in and exogenous to the equation of interest. C. It should be omitted from and exogenous to the equation of interest. D. It should be omitted from and endogenous to the equation of interest.