What is one reason a gambler might bet $1,000 that a sixteenth seed team will win the NCAA basketball tournament?
A) irrationality
B) overconfidence
C) exuberance
D) gambler's fallacy
B
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In new growth theory, the source of economic growth is ______.
A. more leisure B. new and better jobs C. the persistent want for a higher standard of living D. an ever increasing growth rate of capital per hour of labor
Which would be least likely to cause the production possibilities curve to shift to the right?
a. An increase in the labor force. b. Improved methods of production. c. An increase in the education and training of the labor force. d. A decrease in unemployment.
Figure 5-14
Martha initially buys the combination of pens and pencils shown as A in Figure 5-14. After the prices of both goods change, she buys combination B. It must be true that
a.
Martha prefers A to B.
b.
Martha prefers B to A.
c.
Martha is indifferent between A and B.
d.
Martha's preferences between A and B cannot be determined from the information given.
The interest rate that banks charge one another on overnight loans is called the:
A. discount rate. B. prime lending rate. C. overnight lending rate. D. federal funds rate.