A small change in a variable is
A) a ceteris paribus change. B) an efficient change.
C) a marginal change. D) an average change.
C
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Which of the following statements is true?
A) When banks borrow from the discount window, it is an admission of trouble. B) The discount window is operated only in periods of economic expansion. C) The discount window is accessible only to well-performing banks. D) The discount window in the United States is operated by Citibank.
If the overall unemployment rate is 8 percent, it is likely that:
a. It is greater than 8 percent for teenagers b. It is less than 8 percent for college=educated middle-aged men. c. It is more than 8 percent for those without a high school diploma. d. All of the above are true.
Which of the following correctly describes the winner's curse?
a. When firms are bidding on an asset of uncertain value, the winning bid is not the average bid, which may be the most reliable estimate of the asset's true value. Instead the winning bid is the lowest bid, and so is the most pessimistic estimate of the asset's value. b. When firms are bidding on an asset of uncertain value, the winning bid is not the average bid, which may be the most reliable estimate of the asset's true value. Instead the winning bid is the highest bid, and so is the most optimistic estimate of the asset's value. c. When firms are bidding on an asset of uncertain value, the winning bid is the average bid, and thus is the most reliable estimate of the asset's value. The winner is cursed because only the most pessimistic bidder has a chance to earn economic rents on the asset. d. When firms are bidding on an asset of uncertain value, the winning bid is not the highest bid, which may be the most reliable estimate of the asset's true value. Instead the winning bid is the average bid, and so is the most optimistic estimate of the asset's value.
Economists believe that an increase in equilibrium income can eliminate a cyclical deficit but cannot eliminate a structural deficit.
Answer the following statement true (T) or false (F)