A time endowment is
A. the number of hours in a day.
B. a gift of time that a person receives.
C. the maximum number of hours in a year that a person can work.
D. the largest amount of time that can be spent at leisure.
E. all of these answer options are correct.
C. the maximum number of hours in a year that a person can work.
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A foreign exchange intervention that alters the domestic monetary base is:
A. impossible. B. not likely to change domestic interest rates. C. sterilized. D. unsterilized.
Rational (political) ignorance refers to
A) some voters choosing not to vote in elections. B) the fact that some voters are not smart enough to be informed on political issues. C) the state of not acquiring information about politics and government because the costs of acquiring the information are greater than the benefits. D) political candidates deliberately saying "dumb" things during their campaign. E) none of the above
In 2004, China had a substantial trade surplus with
A. Japan. B. Russia. C. the United States. D. Brazil.
People who are the most willing to pay high interest rates for loans may have bad credit ratings. This is an example of:
A. moral hazard. B. an experience rating. C. adverse selection. D. a negative spillover.