Which of the following is true about specific performance?
a. It is an amount paid by a breaching party to the suffering party to cover the latter's loss.
b. It arises in situations which involve written promises.
c. It is usually ordered by the court when the economic value of the transaction is difficult to quantify.
d. It is common in case of contracts having a negative influence on the society as a whole.
C
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How are demand-pull and cost-push inflation reflected in terms of the AD-AS model?
When a particular negative externality affects a very large number of people, it is likely that
a. government will not find it worthwhile to impose a corrective tax. b. private solutions to the problem will dominate any attempt by government to alleviate the problem. c. the solution to externalities suggested by the Coase theorem will work very well. d. the solution to externalities suggested by the Coase theorem will not work.
The level of real GDP person
a. differs widely across countries, but the growth rate of real GDP per person is similar across countries. b. is very similar across countries, but the growth rate of real GDP per person differs widely across countries. c. and the growth rate of real GDP per person are similar across countries. d. and the growth rate of real GDP per person vary widely across countries.
According to _______________, if you suddenly inherited a large sum of money, you would spend only a small part of your inheritance right away.
A. the paradox of thrift B. the permanent income hypothesis C. Thorstein Veblen's Theory of the Leisure Class D. the theory of the multiplier