If the supplies of capital and labour are fixed and technology is unchanging, then real output is:
A. fixed.
B. determined by demand.
C. uncertain.
D. subject to wide fluctuations.
Ans: A. fixed.
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The free-rider problem arises if goods are
A. nonrivalrous in consumption. B. rivalrous in consumption. C. nonexcludable. D. excludable. E. a and d
Suppose you purchase a two-year bond that has a $450 coupon and a face value of $5,000, and immediately after you purchase the bond, new bonds are issued that are otherwise identical, except they have coupons of $375
If you sell your bond, the price of your bond will be A) $4,868.07. B) $5,000.00. C) $5,069.76. D) $5,134.67.
Half of all your potential customers would pay $10 for your product but the other half would only pay $8 . You cannot tell them apart. Your marginal costs are $4 . If you set the price at $8, the expected profit is:
a. $3 b. $4 c. $5 d. $6
Which of the following is a shortcoming of GDP?
a. GDP measures nonmarket transactions. b. GDP includes an estimate of illegal transactions. c. GDP includes an estimate of the value of household services. d. None of these are true.