QUES: In The Use of Knowledge in Society (1945), Hayek argued that the price mechanism serves to share and synchronise local and personal knowledge, allowing society's members to achieve diverse, complicated ends through a principle of spontaneous self-organization. He contrasted the use of the price mechanism with central planning, arguing that the former allows for more rapid adaptation to changes in particular circumstances of time and place. Thus, he set the stage for Oliver Williamson's later contrast between markets and hierarchies as alternative co-ordination mechanisms for economic transactions. He used the term catallaxy to describe a "self-organizing system of voluntary co-operation". Hayek's research into this argument was specifically cited by the Nobel Committee in its press release awarding Hayek the Nobel prize.

The arguments presented in Hayek's 1945 book were a large reason for being granted what award?
What is the answer?
ANS: the Nobel prize
QUES: His parents set aside specific times at breakfast and at dinner for daily family Bible reading. Chores were regularly assigned and rotated among all the children, and misbehavior was met with unequivocal discipline, usually from David. His mother, previously a member (with David) of the River Brethren sect of the Mennonites, joined the International Bible Students Association, later known as Jehovah's Witnesses. The Eisenhower home served as the local meeting hall from 1896 to 1915, though Eisenhower never joined the International Bible Students. His later decision to attend West Point saddened his mother, who felt that warfare was "rather wicked," but she did not overrule him. While speaking of himself in 1948, Eisenhower said he was "one of the most deeply religious men I know" though unattached to any "sect or organization". He was baptized in the Presbyterian Church in 1953.

What is another name for the International Bible Students Association?
What is the answer?
ANS: Jehovah's Witnesses
QUES: The MPEG-1 standard does not include a precise specification for an MP3 encoder, but does provide example psychoacoustic models, rate loop, and the like in the non-normative part of the original standard. At present, these suggested implementations are quite dated. Implementers of the standard were supposed to devise their own algorithms suitable for removing parts of the information from the audio input. As a result, there are many different MP3 encoders available, each producing files of differing quality. Comparisons are widely available, so it is easy for a prospective user of an encoder to research the best choice. An encoder that is proficient at encoding at higher bit rates (such as LAME) is not necessarily as good at lower bit rates.

An encoder that is proficient at encoding at higher bit rates might be worse at what?
What is the answer?
ANS:
lower bit rates