If we think of good governance as a public good created by well-informed voters, we can predict that it will be:
A. in market equilibrium, if left unchecked.
B. oversupplied.
C. undersupplied.
D. in market equilibrium, despite market interference.
Answer: C
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Real GDP refers to ________.
A. GDP data that does not reflect changes in both physical output and the price level B. the value of the domestic output after adjustments have been made for environmental pollution and changes in the distribution of income C. GDP data that embodies changes in the price level but not changes in physical output D. GDP data that has been adjusted for changes in the price level
Every international transaction automatically enters the balance of payments
A) once either as a credit or as a debit. B) twice, once as a credit and once as a debit. C) once as a credit. D) twice, both times as debit. E) the times, once as a credit, onces as a debit, and once as an exchange.
According to the classical dichotomy, which of the following is not influenced by monetary factors?
a. unemployment b. the price level c. nominal interest rates d. All of the above are correct.
Refer to the following payoff matrix:Player 1Player 2??ab?A$50,$5$25,$30?B$40,$2$20,$1The Nash equilibrium for the simultaneous-move game depicted in the payoff matrix is:
A. {(A,a)}. B. {B,b)}. C. {(A,a) and (A,b)}. D. There is no pure strategy Nash equilibrium to this game.