Which of the following is NOT a macroeconomic statement?
A) The U.S. inflation rate was two percent in 2016.
B) The price of cell phones decreased by 18 percent last year.
C) Gross domestic product in Peru increased 4 percent from 2015 to 2016.
D) Aggregate worker productivity decreased by three percent in 2016.
B
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The presence of transactions costs and information costs
A) lowers the cost of funds to borrowers. B) raises the expected return to lenders. C) lowers the expected return to lenders. D) increases the efficiency of the financial system.
What are some of the drawbacks, as you see them, to a program like Workfare?
What will be an ideal response?
Repeated play can change the outcome in sequential games by:
A. reducing the first-mover advantage. B. removing the incentive to cooperate. C. making collusion more probable. D. increasing the incentive to defect.
In many countries, the government chooses to "internalize" the monopoly by owning monopoly providers of goods and services. (In some cases these firms are "nationalized," and the government actually buys or confiscates firms that operate in monopoly
markets). What would be the advantages and disadvantages of such an approach to ensure that the "best interest of society" is promoted in these markets? Explain your answer.