Mechanism designers start by building models and then look for problems that their models can solve.
Answer the following statement true (T) or false (F)
False
Mechanism design begins with the desired outcome and then selects the appropriate coordination mechanism to solve the policy issue.
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If a bank borrows from a Federal Reserve Bank, the interest rate is called
A) the prime rate. B) the discount rate. C) the Fed funds rate. D) the reserve availability rate.
An appreciation in the U.S. dollar benefits which of the following groups of people?
a. All people living in the United States b. U.S. producers who export farm equipment to other countries c. U.S. consumers who buy imported automobiles d. Foreigners who wish to travel to the United States e. U.S. consumers who buy only goods made entirely in the United States
There is no cost of using your own savings in your business
a. True b. False Indicate whether the statement is true or false
Which of the following is usually a durable good?
a. a unit of labor b. the interest rate c. a depletable resource d. a capital good