Economic growth focuses on ________, utility focuses on ________, and the capabilities approach focuses on ________.
A. human development, output, individual pleasure
B. human development; individual pleasure; output
C. output; human development, individual pleasure
D. output; individual pleasure; human development
Answer: D
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Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice. 
Which of the following statements is true?
A. Jordan does not have a dominant strategy. B. For Jordan, seeing a comedy is a dominant strategy. C. Jordan's dominant strategy depends on Lee's choice. D. For Jordan, seeing a documentary is a dominant strategy.
When a bank suspects that a $1 million loan might prove to be bad debt that will have to be written off in the future the bank
A) can set aside $1 million of its earnings in its loan loss reserves account. B) reduces its reported earnings by $1, even though it has not yet actually lost the $1 million. C) reduces its assets immediately by $1 million, even though it has not yet lost the $1 million. D) reduces its reserves by $1 million, so that they can use those funds later.
If a decrease in prices increases total revenue for a product in the short run, in the long run, it will: a. Increase total revenue by more
b. Increase total revenue by less. c. Decrease total revenue. d. Either b. or c. could result in the long run.
The degree to which people have access to goods and services that make their lives easier, healthier, safer, and more enjoyable is called the:
A. scarcity standard. B. standard of living. C. microeconomic standard. D. global standard.