Over the past five years, most countries' debt-to-GDP ratios have risen as a result of the global recession.
Answer the following statement true (T) or false (F)
True
The financial crisis and its aftermath as put a huge strain on government spending and tax revenue around the world.
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Refer to the table above. You are told that Country B has no minimum wage or child labor laws. Now the correct answer is
A) country B will export good S. B) country A will export good S. C) both countries will export good S. D) trade will not occur between these two countries. E) both countries will import good S.
The economy recovers quickly from most recessions, but the increase in adverse selection and moral hazard problems in the credit markets caused by ________ led to the severe economic contraction known as The Great Depression
A) debt deflation B) illiquidity C) an improvement in banks' balance sheets D) increases in bond prices
A rational decision is one that
a. satisfies all desires. b. avoids the intentional allocation of resources. c. assigns available resources in the manner most preferred by decision makers. d. assigns available resources to the uses with the lowest opportunity costs.
The concept that for each additional unit of a good the added satisfaction you receive from consuming the good decreases is called _____?
A. Diminishing marginal utility B. Chaos concept C. Self-interest utility D. Rational choice theory