President Ronald Reagan once joked that a Trivial Pursuit game designed for economists would
a. have no questions but hundreds of answers.
b. have 100 questions and 3,000 answers.
c. have 1,000 questions but no answers.
d. never produce a winner.
b
You might also like to view...
A sum of money received at a future date is worth less than the same sum of money received today. Why? Explain this with an example.
What will be an ideal response?
As the real wage rate rises, the opportunity cost of
A) working rises. B) saving rises. C) leisure rises. D) buying goods and services rises. E) leisure falls.
Which of these four-firm concentration ratios suggests that an oligopoly exists in an industry?
a. 5 percent b. 25 percent c. 50 percent d. 95 percent
In 2014, which of the following countries had the lowest ratio of exports to GDP?
A) Japan B) Switzerland C) Austria D) Netherlands E) United States