Using the rule of 70, if the GDP per capita growth rate in the United States is 4.4 percent, real GDP per capita doubles every:
A. 6.72 years.
B. 15.91 years.
C. 44 years.
D. 65.6 years.
Answer: B
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Which of the following conditions is violated if there is a free rider problem?
(a) universality (b) exclusivity (c) transferability (d) enforceability
About what percentage of marketable national debt is held by foreigners?
A) 5 percent B) 15 percent C) 25 percent D) 50 percent
If Cheesy Cheese agrees to sell its cheese to Fresh Pizza on the contractual condition that Fresh Pizza purchases 100 percent of the cheese needed to make its pizzas from Cheesy Cheese, this is an example of ________.
A) a horizontal contract B) a tying arrangement C) an exclusive dealing contract D) a requirements contract
Whenever the price of Good A decreases, the demand for Good B increases. Good A and B appear to be: a. complements. b. substitutes
c. inferior goods. d. normal goods.