If the personal saving rate is 5% and personal saving is $10 billion, the value of personal disposable income
A. is $100 billion.
B. is $200 billion.
C. is $500 billion.
D. cannot be determined from this information.
Answer: B
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Which of the following issues prominent in the presidential election of 2012 shifts the aggregate demand curve rightward?
A) raising taxes on the rich B) increasing Medicare, Medicaid, and Social Security payments C) loosening immigration policies D) allowing more oil drilling on Federal lands
A linear demand for lake front cabins on a nearby lake is estimated to be: QD = 900,000 - 2P. What is the point price elasticity for lake front cabins at a price of P = $300,000? [HINT: Ep = (?Q/?P)(P/Q)]
a. EP = -3.0 b. EP = -2.0 c. EP = -1.0 d. EP = -0.5 e. EP = 0
The sum of the possible outcomes of a gamble multiplied by their respective probabilities is known as:
A. the expected value of the gamble. B. a fair gamble. C. the variance of the gamble. D. a better-than-fair gamble.
Game theory shows that cartels
A) should be expected B) allow firms to maximize joint profits C) allow firms to overcome the less desired outcome consistent with the prisoner's dilemma D) All of the above