Most economists assume that the goal of elected officials is to promote the public interest
a. True
b. False
B
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Youland is hit by a recession. What will be the impact of a countercyclical policy on labor demand in Youland if nominal wages are downwardly rigid?
What will be an ideal response?
Suppose Lily's indifference curves are defined as U = ?FS + ?FH, where FS is consumption during sunny weather and FH is consumption during a hurricane. Lily receives 64 units of food when it is sunny and 16 units of food when there is a hurricane. What is the risk premium if the probability of sunshine is ? = 0.5?
A. 4 B. 6 C. 12 D. 16
In a market for emission permits, firms that emit over their allowed limits
A. must buy more allowances through a trading system. B. are forced to shut down. C. are taxed by the government for the amount of emissions. D. will sell their excess allowances through a trading system.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20 B. more than 20 C. fewer than 20 D. exactly 90