Which of the following is TRUE regarding a trend?
I. A cross section graph shows trends.
II. A time-series graph shows trends.
III. A scatter plot shows trends over time.
A) I
B) II
C) I and II
D) II and III
B
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Suppose a firm uses workers and office space to produce output. The firm is locked into a year-long lease on its office space, but it can easily vary the number of employee-hours it uses each day. The table below describes the relationship between the number of employee-hours the firm uses each day and the firm's daily output. Each unit of output sells for $2, the hourly wage rate is $14, and the rent on the office space is $50 per day.Employee-HoursPer DayOutputPer Day0014048091201516023200When the firm uses 9 employee-hours, its total cost each day is:
A. $126 B. $56 C. $176 D. $64
The problem of moral hazard helps explain why the International Monetary Fund _______ the Asian countries during their 1997-1998 crisis and _______ Argentina during its 20011-2002 crisis
a. helped; abandoned. b. abandoned; helped. c. helped; helped d. abandoned; abandoned. e. none of the above.
Suppose the banks in the Federal Reserve System have $400 million in transactions accounts and the reserve requirement is 0.10. Ceteris paribus, if the reserve requirement is decreased to 0.05, then excess reserves will increase by:
A. $1 million. B. $20 million. C. $40 million. D. $2 billion.
Economists generally consider the use of taxes as the most efficient way of solving pollution problems.
Answer the following statement true (T) or false (F)