In 2011, the three largest economies in the world were (listed in order, from largest):
A. The U.S., China, Germany
B. China, the U.S., Japan
C. The U.S., China, Japan
D. China, the U.S., Germany
C. The U.S., China, Japan
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Suppose a successful advertising campaign increases the demand for Nike shoes. Which would tend to occur?
A) The demand curve for Nikes would shift to the right. B) The quantity supplied of Nikes would increase. C) The price of Nikes would rise. D) All of the above.
Suppose a plaintiff hires a lawyer to represent her in a court case. Under which of the following contracts is efficiency in risk bearing assured?
A) The lawyer is paid by the hour. B) The lawyer receives a share of the settlement. C) The lawyer receives a fixed fee. D) It is impossible to determine without the degree of risk aversion for each.
If the federal government brings in $3 trillion in tax revenues and spends $4 trillion, the government has a budget:
A. surplus of $1 trillion. B. deficit of $1 trillion. C. surplus of $7 trillion. D. deficit of $0.75 trillion.
Which of the following is a financial intermediary that serves as a bridge between savers and borrowers in the loanable funds market model?
a) Mutual funds b) Corporations c) Government d) Stock market