Which is the best example of an intangible good?
A) the car you dream of owning but cannot afford
B) the suit you hope will make a good impression when you go on job interviews
C) the textbook study guide you hope will prepare you to perform well on examinations
D) the advice and expertise provided by the music store clerk who sold you that CD
Answer: D
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If N is the working-age population, Q is the labor force, and U is the number of unemployed, then the employment/population ratio is measured as
A) N/Q B) U/Q C) (Q-U)/N D) Q/N
One reason many people make their own Hollandaise sauce rather than buy it is that
a. they can maintain control over the quality during production b. the total cost of ingredients is the same as the price of store-bought sauce c. firms do not make high-quality Hollandaise sauce d. people place a high value on their time e. firms do not produce goods that can be made at home
Which of the following statements about Nash equilibrium is true?
a. Every finite game has more than one Nash equilibrium. b. A pair of dominant strategies in a price-fixing game is always a Nash equilibrium. c. A dominance solvable game does not have a Nash equilibrium. d. Games with an infinite number of strategies have multiple Nash equilibria.
If people decide to hold less money as currency and more as checking deposits, this will most likely cause
a. a decrease in bank reserves. b. a decrease in required reserves. c. an increase in the discount rate. d. an increase in the money supply.