The fact that the children of the poor drop out of school earlier than other children is evidence of the flawed character of the poor. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
Which of the below outcomes is the result of a Nash equilibrium in pure strategies for the game in Scenario 13.10? A) -5, 5 B) 10, -10 C) 8, -8 D) 0, 0 E) There is no pure strategy equilibrium in this game. ANSWER E
Date: September 9th, 2020
The PDV of a perpetuity with a yearly payment of $500 at an interest rate of 5% is A) $100. B) $5,000. C) $25,000. D) $10,000. E) $100,000. ANSWER D
Date: September 9th, 2020
Which of the following is TRUE about a college education as a signaling device? A) It is a useful signal only if individuals choose majors related to their ultimate field of employment. B) It is a useful signal only if a college education is open to all individuals, no matter what their previous level of […]
Date: September 9th, 2020
Most Americans believe that families really could get by on the government’s definition of minimum needs if they tried hard. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
In the short run, a perfectly competitive firm earning negative economic profit A) is on the downward-sloping portion of its AVC. B) is at the minimum of its AVC. C) is on the upward-sloping portion of its AVC. D) is not operating on its AVC. E) can be at any point on its AVC. […]
Date: September 9th, 2020
See Scenario 4.5. If P = $1,000, the price elasticity of demand: A) is 0, B) is negative infinity. C) is -0.18. D) cannot be determined without knowing I and Ph. ANSWER C
Date: September 9th, 2020
The limited savings of the poor is evidence of the flawed character of the poor. Indicate whether the statement is true or false ANSWER F
Date: September 9th, 2020
A warranty is most valuable as a signaling device when A) the buyer has much more information about the product than the seller does. B) the seller has much more information about the product than the buyer does. C) the buyer has much more information about his or her own preferences than the seller does. […]
Date: September 9th, 2020
The marginal rate of technical substitution is equal to the A) slope of the total product curve. B) change in output minus the change in labor. C) change in output divided by the change in labor. D) ratio of the marginal products of the inputs. ANSWER D
Date: September 9th, 2020
