Refer to Table 2.1. GDP in 2012 is
A) $190.00.
B) $199.50.
C) $215.00.
D) $267.50.
C
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A game where it only matters that the players work together to agree on an outcome, not which outcome they agree upon, is called
A) a pure coordination game. B) a prisoner's dilemma game. C) an assurance game. D) a battle of the sexes game.
Which of the following would cause an upward shift in the consumption function?
a. a stock market crash b. an increase in the price level c. a decrease in disposable income d. a decrease in the price level
If foreign citizens earn less income in the U.S. than U.S. citizens earn in foreign countries,
a. U.S. net factor payments from abroad are positive, and its GDP is larger than its GNP. b. U.S. net factor payments from abroad are positive, and its GNP is larger than its GDP. c. U.S. net factor payments from abroad are negative, and its GDP is larger than its GNP. d. U.S. net factor payments from abroad are negative, and its GNP is larger than its GDP.
Refer to the accompanying figure. The opportunity cost of increasing medical care from 200 to 400 units is ________ the opportunity cost of increasing medical care from 400 to 600 units.
A. greater than B. twice as much as C. exactly the same as D. less than