In 1974, one could buy a theater ticket for $1.25 . Today the same theater ticket costs $6.50 . Which pair of CPIs would imply that the cost in today's dollars was the same for both tickets?
a. 60 in 1964 and 390 today
b. 75 in 1964 and 390 today
c. 80 in 1964 and 404 today
d. 95 in 1964 and 475 today
b
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When optimizing in levels, if the ________ exceeds the ________, Project A is chosen over Project B
A) marginal benefits of Project B; marginal benefits of Project A B) net benefits of Project A; net benefits of Project B C) total benefits of Project A; total benefits of Project B D) marginal cost of Project A; marginal costs of Project B
What is one reason the federal government might "bail out" farmers in flood prone areas of the country?
A) Such flooding is not diversifiable and therefore only non-profit entities, such as the federal government, can cover the risks. B) Such flooding is diversifiable, but insurance company CEOs are more concerned with their stock-holder wealth than the well-being of farmers. C) Such flooding is diversifiable, but the market for such insurance policies cannot clear without the assistance of the International Community. D) Such flooding is known to happen on a regular basis and therefore there is no "risk" to be insured against.
Which of the following results from providers having more information about treatment alternatives than their patients?
a. Principle-agent problem. b. Rational ignorance. c. Externalities. d. Adverse selection. e. The substitution effect.
Answer the following statements true (T) or false (F)
1. According to the Department of Commerce, a person living alone constitutes a single-person family. 2. Statistics indicate that because of government transfer programs, households in the four lower quin tiles now receive a much larger share of aggregate income than in 1970. 3. The Lorenz curve measures the degree to which a nation’s income is distributed. 4. The Lorenz curve measures the per capital annual income of individuals. 5. The value of the Gini coefficient has increased since the 1970s.