Which of the following plays an increasingly important role in the U.S. economy?
A.) International trade.
B.) Manufacturing.
C.) Farming.
D.) Construction and mining.
A.) International trade.
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John takes out a student loan at a bank but spends his money in Las Vegas to play at the casino. This situation is an example of
A) moral hazard. B) moral suasion. C) adverse selection. D) fraud.
A student has a job that pays a wage rate of $10 per hour. The night before an economics exam, the student has set aside four hours to study for the exam, estimating that for each hour spent studying, her grade will rise by 5 points
That night, she gets a call from her employer to come to work for a wage rate of $15 per hour for that night. She decides to work for three hours and earn an extra $45.00. The next day she takes the test and gets a grade of 75. The opportunity cost for her work is A) the $45.00 she earned. B) the 15 extra points she estimates that she could have earned on the exam if she had studied the extra three hours. C) the three hours she did not study. D) the entire four hours she set aside for studying.
During an inflationary period caused by excessive aggregate expenditure, which type of government budget would most effectively combat inflation?
a. a deficit budget b. a balanced budget c. a surplus budget d. a full-employment budget
A maximin strategy will maximize the maximum payoff that can be earned.
Answer the following statement true (T) or false (F)