Refer to Figure 10.1. If only one light is installed, the people who were not responsible for the light being installed each receive a payoff of

One of the economic costs of holding currency is that

A) it fulfills no transactions role. B) it fulfills no precautionary role. C) its real value always increases. D) it earns no interest income.

All of the following are criteria used to select a forecasting technique EXCEPT:

a. the accuracy required of the forecasting model b. the time required to complete the model c. the complexity of the relationships being forecast d. the cost associated with developing the forecasting model e. all of these are criteria used to select a forecasting technique