A social cost that is NOT fully paid by the individual using an automobile is
A) traffic congestion.
B) gasoline and oil.
C) insurance.
D) depreciation of the vehicle.
Answer: A
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One timing problem in using fiscal policy to counter a recession is the "implementation lag" that occurs between the
A. start of the recession and the time it takes to recognize that the recession has started. B. time fiscal action is taken and the time that the action has its effect on the economy. C. time the need for the fiscal action is recognized and the time that the action is taken. D. start of a predicted recession and the actual start of the recession.
Answer the following statement(s) true (T) or false (F)
1. The Good Samaritan Rule dictates that if a person witnesses a crime, they must assist the person against whom the crime is being committed. 2. It is always best to be the strong pig in Pigs in a Box. 3. For a Nash equilibrium to exist, at least one player must have a dominant strategy. 4. An outcome is not a Nash equilibrium if either player would be better off with a different strategy. 5. A player has a dominant strategy when there is one strategy the player would want to follow regardless of the other player's behavior.
The oldest central bank, having been founded in 1694, is the
A) Bank of England. B) Deutsche Bundesbank. C) Bank of Japan. D) Federal Reserve System.
Financial markets pay close attention to changes in the federal funds rate because these changes:
A. indicate commercial bank lending policies. B. directly affect the interest payments on the national debt. C. directly affect a large volume of loans. D. indicate the Fed's plans for monetary policy.