Real per capita GDP in the United States in 2015 was approximately
A. $16,349.
B. $47,845.
C. $50,820.
D. $16.3 trillion.
Ans: C. $50,820.
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Suppose an astronomer discovers gold on the moon. Would this gold add to the world reserves?
A) Yes, we know it exists and we could recover it. B) No, we know it exists but we can't extract the gold. C) No, there are no established property rights over the moon so they cannot add to world reserves.. D) Yes, but only if the astronomer is the resident of a developed country with well-established property rights.
Progressive Insurance's 'Tripsense' monitors driving patterns of the people who purchase the related insurance policy. This lowers insurance costs because
a. only less reckless drivers will accept the device b. only more reckless drivers will accept the device c. drivers will believe they can now drive more recklessly d. it does not affect care in driving
The lowest possible unemployment rate that will not cause the inflation rate to increase is called:
A. the nonaccelerating inflation rate of unemployment (NAIRU). B. the natural rate of unemployment. C. "full employment." D. All of these statements are true.
In modern economies:
A. all prices are very flexible. B. some prices are very flexible while others are not. C. no prices are very flexible. D. prices become less flexible as they increase.