If people who report being unemployed are not, in fact, trying hard to find a job, then the reported unemployment rate will be biased upward
a. True
b. False
Indicate whether the statement is true or false
True
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If a firm sells to two distinct identifiable markets and resale is impossible, why is price discrimination more profitable than setting a single price?
What will be an ideal response?
All of the following statements regarding rational ignorance are true except
a) combined with special interest groups, it yields inefficiency in the provision of public goods b) it allows special interest groups to exert political influence c) it leads to an efficient outcome d) none of the above
Tom obtains a car loan from Old Town Bank.
A. The car loan is Tom's asset and the bank's liability. B. The car loan is Tom's asset, but the liability belongs to the bank's depositors. C. The car loan is Tom's liability and a liability of the bank until Tom pays it off. D. The car loan is Tom's liability and an asset for Old Town Bank.
Answer the following questions true (T) or false (F)
1. If it costs Danitra $225 to create 4 necklaces and $275 to create 5 necklaces, then the marginal cost of producing the 5th necklace is $50. 2. Suppose the extra cost to a city of lowering the speed limits in all school zones by 10 mph is $10,000 per year. Then, the city should lower the school-zone speed limits by 10 mph if doing so results in an additional benefit of less than $10,000 per year. 3. All economic questions arise from the fact that resources are scarce.