In a typical year, ________ of new jobs are created by small firms
A) less than 5 percent B) 10 percent C) 40 percent D) 75 percent
C
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Consider a risk-averse individual whose initial situation is a risk-free basket of outcomes. How does this person react when he is offered a wager at favorable odds?
a. He always declines the wager. b. He always accepts the wager. c. He accepts the wager only if it is sufficiently small. d. He accepts the wager only if it is sufficiently large.
Which of the following does not explain why data on income distribution and the poverty rate give an incomplete picture of inequality?
a. in-kind transfers b. economic life cycle c. transitory income d. All of the above contribute to an incomplete picture of inequality.
Real gross domestic product is a measure of the:
A. Average price level in the economy B. Value of final output produced within a country in one year, using current prices C. Value of final output produced within a country in one year, adjusted for changing prices D. Total value of available resources in a nation
Suppose a country's net exports equal zero. Which of the following will happen if the volume of exports increases without an increase in the volume of imports?
A) The country will experience a budget deficit. B) The country will experience a trade surplus. C) The country will experience a trade deficit. D) The country will experience a budget surplus.