Refer to Scenario 12.1. What is the probability of both Simon and Paula trying to rescue the man?
A) 9%
B) 21%
C) 49%
D) 70%
C
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An asset becomes more liquid and hence more money-like
A) as its value relative to other goods approaches zero. B) as its value relative to other goods becomes more uncertain and unpredictable. C) as the cost of exchanging it for other goods approaches zero. D) when it is demanded for its own intrinsic value.
With reference to the graph above, if the intended aim of the price ceiling set at $6 was a net increase in the well-being of consumers:
A. then the policy was ineffective since consumers gained in surplus overall. B. then the policy was effective since consumers lost surplus overall. C. then the policy was ineffective since consumers lost surplus overall. D. then the policy was effective since consumers gained in surplus overall.
Which of the following is not associated with global poverty?
A. Malnourishment. B. Lack of proper clothing. C. Low mortality rates. D. Lack of medical care.
Roughly how large is the difference between U.S. GDP and U.S. GNP?
What will be an ideal response?