To be a member of the Internal Monetary Fund a nation must deposit funds based on
A. the need to loan money to developing nations.
B. its national income.
C. rules set up by the World Bank.
D. the amount of funds it wants to deposit.
Answer: B
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For a monopolist, on the inelastic range of its demand
A) marginal revenue is negative. B) marginal revenue is positive. C) marginal revenue is equal to zero. D) total revenue is maximized.
Arguably the simplest voting system is:
A. instant runoff voting. B. pair-wise majority voting. C. first-past-the-post voting. D. approval voting.
The long-run Phillips curve:
a. is horizontal. b. is the same as the short-run Phillips curve. c. displays a positive relationship rather than an inverse relationship. d. is exponential. e. is vertical.
The false belief that past outcomes affect future events is known as ______.
a. the endowment effect b. the gambler’s fallacy c. the law of diminishing marginal utility d. the ultimatum game