Related to the Economics in Practice on page 239: All else equal, more highly educated people are ________ than those who have less education.
A. more likely to hold stock
B. less likely to hold stock
C. always going to earn more from investing in stock
D. no more or no less likely to hold stock
Answer: A
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The key distinction between risk and uncertainty is
a. Risk cannot be quantified, priced or traded b. Uncertainty refers to not knowing possible outcomes or their probabilities c. Uncertainty is modeled by listing the possible outcomes and assigning probabilities to the outcomes d. Risk has to do with not knowing the probability distribution of a random variable
Table 11-1 Y = C + I + G C = 500 + 0.8(Y?T) I = 300 G = 700 T = 0.25Y Refer to Table 11-1. What is the equilibrium level of income in this model?
A. 5,000 B. 4,500 C. 3,750 D. 3,500 E. 3,250
A change in the value of consumer's stock market holdings will cause a shift in the consumption function
a. True b. False Indicate whether the statement is true or false
The liquidity trap is based on the _____ demand for money.
A. overall B. transactions C. precautionary D. speculative