During the Great Recession, and during the 12 months after the failure of Lehman Brothers, what was the average monthly job loss?
a. 400,000
b. 450,000
c. 565,000
d. 600,000
c
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Inefficient use of resources is shown on the production possibilities curve
A) by an inward shifting of the curve. B) by a point inside the curve. C) by a point near the top of the curve. D) by a point outside the curve.
If government taxes a firm which pollutes this will:
a. increase the demand for the good produced. b. decrease the supply of the good produced. c. increase the equilibrium quantity of the good produced in the market. d. decrease the equilibrium price of the good produced in the market. e. all of these.
Risk aversion implies that
A) individuals will not take on risk. B) investors must be compensated for about half of the risk they take on. C) investors must be compensated for the risk they take on. D) None of the above.
Which of the following statements is true about voting results if preferences are intransitive?
a. The result of voting never reflects majority preferences. b. It is impossible to predict the outcome when preferences are intransitive. c. The person who sets the agenda (sequence of votes) may be able to control the outcome. d. Only a Borda Count yields a unique result when preferences are intransitive.