What is the relationship between the gross domestic product of a country and the level of life satisfaction in the country?
What will be an ideal response?
GDP turns out to be an excellent predictor of life satisfaction. It has been found that there exists a robust relationship between GDP and life satisfaction in a large sample of countries. The countries with higher levels of per-capita GDP report higher levels of life satisfaction.
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Unemployment due to factors such as weather or fluctuations in demand for certain goods and services during different times of the year is called ________ unemployment
A) frictional B) structural C) cyclical D) seasonal
An insurance policy is a product that:
A. allows people to pay to reduce uncertainty in some aspect of their lives. B. involves a company paying individuals very large sums of money if they encounter any risk. C. involves individuals paying a company to ensure they don't experience any risk. D. involves individuals paying a regular fee in return for an agreement that the insurance company will cover all expenses associated with risky behavior.
All examples of the prisoner's dilemma game are characterized by one and only one Nash equilibrium
a. True b. False Indicate whether the statement is true or false
A crowded beach without an entrance fee is a ________ good.
A. private B. public C. commons D. pure public