Tag: Economics – Others

An example of a bilateral contract is
Group of answer choices
a promise only in exchange for someone else’s action
a promise without consideration someone mowing your lawn.
a promise for a promise

What part of the Federal Reserve’s congressional mandate does this scenario trigger (price stability and maximum sustainable employment)?
This scenario may trigger maximum sustainable employment.

Carl and David resolve their dispute over Carl’s real property by having a neutral third party render a binding decision. This is:early neutral case evaluation.mediation.negotiation.arbitration.

The government’s decision on how much to spend on public projects
The effect of a fuel tax on the quantity of gasoline sold
The effect of an increase in the money supply on the rate of inflation

The three forms of equality described by the Friedmans include all of the following EXCEPT
Question 5 options:
equality of outcome.
equality before God.
equality of opportunity.
equality of genders.

What Canadian province was home to the Quiet Revolution, the movement that led to a referendum in that province that threatened independence from Canada?
Quebec
British Columbia
Saskatchewan
Ontario

The Herfindahl-Hirschman Index for the U.S. airline industry (using the 10 firms given) is blank, which is less than 1,500 and therefore considered competitive.
1,221.71
1,207.93
1,218.82

Suppose it takes Lottie 2 hours to weave one basket and 4 hours to weave one rug, and it takes Rufus 3 hours to weave one basket and 9 hours to weave one rug. The opportunity cost of 1 rug:

QUESTION 24
If the income elasticity of demand for a good is
A. positive; normal good the good is said to be a(n)
B. positive; inferior good
C. positive; positive good
D. negative; substitute good

Suppose that Erica has a total of 90 hours in the week to split between work and leisure. Erica also receives 300 per week in non-labor income. What is Erica’s marginal utility of consumption?