Which of the following is correct?
a. Over the last 100 years Japan had a higher average growth rate than the United States. It follows that, today, the standard of living in Japan is higher than in the United States.
b. The typical person in Bangladesh today has about twice the real income of a typical American 100 years ago.
c. The typical citizen of China today has about one-half as much real income as the typical citizen of America today.
d. None of the above is correct.
d
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Collusion and cartels are frequently legal in Europe
a. True b. False
Adverse selection occurs in the used car market because:
A. the buyer has more information than the seller. B. the seller has more information than the buyer. C. both the buyer and the seller have incomplete information. D. Any of these could be the cause of adverse selection in the used car market.
The price of a coupon bond will increase as the:
A. term to maturity is shorter. B. face value decreases. C. yield increases. D. coupon payments increase.
In a zero-sum game
A. one player's losses are exactly offset by another player's gains. B. both players are better off at the end of the game. C. both players are worse off at the end of the game. D. both players collude to make both of them better off.