Answer the following statement true (T) or false (F)
1) Property rights over fish in the open ocean exist once the fish are caught.
2) Fisheries have been overexploited relative to forests primarily because people care more
about trees than fish.
3) TAC policies help reduce overfishing and reduce costs for fishers.
4) Total allowable catch policies promote economic efficiency better than individual transferable
quotas.
1) T
2) F
3) F
4) F
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If the CPI this year is 220 and was 200 in last year, the annual inflation rate between the two years is
A) 5 percent. B) 10 percent. C) 20 percent. D) 2 percent.
In the schematic theory of economic policy, the demand for money is considered
A) a policy instrument. B) an exogenous nonpolicy variable. C) a structural relation. D) a target variable. E) an irrelevant side effect.
Suppose you lend $5,000 to your brother for one year at a nominal interest rate of 7%. Inflation during that year is 4%. As a result, you will receive ________ at the end of the year
A) $5,150 B) $5,225 C) $5,350 D) $5,550
Scenic Cinemas surveyed its audience and found that while most movie goers prefer weekends, seniors visit on weekdays. How should the theatre respond?
a. Increase prices for the weekday shows, decrease the prices for the weekend shows b. Decrease both the weekday and weekend ticket prices c. Decrease prices for the weekday shows, increase prices on the weekends d. Increase both the weekday and weekend prices