The price of a given basket of goods in Year 1 was $1,300. The price of the same basket of goods in Year 2 was $1,560. The CPI for Year 2 taking Year 1 as the base year is ________.
A) 101
B) 120
C) 156
D) 100
Answer: B) 120
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The Bank of Lithasia plans to increase its revenue by using demand deposits held with the bank for long-term investments. What is this process known as? Is there any risk associated with this process? If yes, how can the risk be reduced?
What will be an ideal response?
According to the functional distribution of income, in the United States
A) capital earns most of the income. B) labor earns most of the income. C) land earns most of the income. D) entrepreneurs earned most of the income. E) the income earned by capital and labor are approximately equal.
Economic rent is
A. the sum of the payment actually received by an owner of a factor of production and her reservation price. B. the payment actually received by an owner of a factor of production. C. the reservation price of an owner of a factor of production. D. the difference between the payment actually received by the owner of a factor of production and her reservation price.
A Nash equilibrium refers to a:
A. cooperative game. B. a sequential game. C. a noncooperative game. D. a repeated game.