The expectation that increased employment improves one’s chances of escaping poverty is fully supported by available data. Indicate whether the statement is true or false ANSWER T
Date: September 9th, 2020
Refer to Scenario 15.6. The expected NPV of the computer purchase is approximately A) $3,200. B) $5000. C) $10,000. D) $68,000. E) $96,000. ANSWER A
Date: September 9th, 2020
Suppose there are seven firms in a market where the three largest firms supply 20% of the market-clearing quantity and the other four firms supply 10% of the market-clearing quantity. What is the five-firm concentration ratio (i.e. , the share of total sales controlled by the five largest firms in the market)? A) 60% B) […]
Date: September 9th, 2020
The problem of asymmetric information in multi-plant firms involves A) only the problem of how to get managers to produce as much as possible. B) only the problem of how to get managers to produce the amount the larger firm wants them to, whether it be a lot or a little. C) both the problem […]
Date: September 9th, 2020
Classrooms within schools show about the same segregation as the schools themselves. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
A manufacturer of digital music players uses a proprietary file format that is not used by the other firms in the market. This action by the firm may be an example of using a ________ to reduce the number of firms in the market and to maintain a relatively inelastic demand for its products. A) […]
Date: September 9th, 2020
As defined by Thomas Schelling, a “strategic move” is A) any strategy choice in a game. B) any strategy choice consistent with Nash equilibrium. C) any strategy choice in a sequential game. D) a strategy choice that influences the subsequent strategy choice of another player. E) a strategy choice that restricts the set of outcomes […]
Date: September 9th, 2020
Refer to Scenario 15.5. If Catherine stopped smoking, then what is the total amount that Catherine will save on life insurance premiums over the rest of her expected lifespan? A) $700 B) $14,000 C) $30,000 D) $42,000 E) $56,000 ANSWER D
Date: September 9th, 2020
Under what conditions will a firm’s long-run producer surplus exceed their economic rents? A) The firm requires land resources in the production process. B) The firm has access to specialized tools or technology that other firms do not own. C) The firm has access to knowledge or human capital that other firms do not own. […]
Date: September 9th, 2020
Tracking systems reduce classroom segregation. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
