Lawyer Ayres and economist Levitt considered the net benefits of installing a LoJack from the society's standpoint positive, because the annual installation and service charges on this equipment was:
a. more than the average loss per stolen car.
b. higher than the auto theft insurance paid by car owners
c. lower than the auto theft insurance paid by car owners.
d. less than the average loss per year due to deterred theft.
D
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Suppose that a bond promises to pay $107 next year but the interest rate falls from 7 percent to 3 percent per year. How much will the price of the bond be and why?
What will be an ideal response?
In the short run, if the economy is at full employment, then the quantity of real GDP
A) is equal to potential GDP, and the unemployment rate is equal to the natural unemployment rate. B) does not necessarily equal potential GDP, but the unemployment rate is equal to the natural unemployment rate. C) is equal to potential GDP, but the unemployment rate does not necessarily equal the natural unemployment rate. D) is equal to potential GDP, but the unemployment rate is less than the natural unemployment rate. E) exceeds potential GDP, and the unemployment rate is less than the natural unemployment rate.
The above figure shows the demand curve for movie rentals from Redbox. If Redbox lowered its price from $1.50 to $1.00, then total revenue would ________ because demand is ________
A) decrease; elastic B) increase; elastic C) decrease; inelastic D) increase; inelastic
A possible budget reform involves: a. a quadrennial budget
b. breaking down the budget into increasingly small budget lines. c. appointing agency heads with different priorities than those of elected representatives. d. to simplify the budget document by concentrating only on major groupings and eliminating line items. e. to eliminate the operating budget.