Economists pay special attention to making choices at the margin
a. true
b. false
Ans: a. true
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When individuals are unemployed because they lack the qualifications to fill available jobs, this is called
What will be an ideal response?
When General Dwight D. Eisenhower ran for the presidency for the first time, he said he would
A. end the recession and end inflation. B. end the recession and end the Korean War. C. end inflation and end the Korean War. D. end the recession, the Korean War, and inflation.
Which of the following is true when an economy is producing efficiently?
A. The economy is producing on the production possibilities curve. B. The economy is getting the fewest goods and services from the available resources. C. Everyone in the economy is happy. D. The economy is producing outside the production possibilities curve.
The optimal strategy for a risk-neutral bidder in a second-price, sealed-bid auction with independent private values is to bid:
A. slightly higher than his or her valuation. B. slightly less than his or her valuation. C. his or her true valuation. D. None of the statements is correct.