Most economists agree that the target rate of inflation for the central banks should be:
A. between 7 and 9 percent.
B. above zero for fears of deflation.
C. something over 3 but less than 6 percent.
D. less than zero.
Answer: B
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Suppose that the local health board discovers some unsanitary conditions at your favorite sushi restaurant. An economist would likely have what to say about this situation?
A) "All unsanitary conditions at this restaurant must be eliminated." B) "The restaurant owner obviously cares more about profits than about his customers." C) "No one should eat at this restaurant due to the potential health hazard." D) "Eliminating all of the unsanitary conditions might cost more than the value of the benefits that would be gained."
Mrs. Dodge has $8 million in income and pays no income taxes. Her income is most likely
A. capital gains. B. interest on corporate bonds. C. interest on municipal bonds. D. offset by mortgage interest.
The Kyoto Protocol was signed by participating nations in
A) 2001. B) 1972. C) 1997. D) 2012.
Which of the following conditions are necessary for the Coase theorem to apply?
A. Only a few people can be involved. B. The basic rights of the individuals must be clearly understood. C. There must be no impediments to bargaining. D. all of the above