The average income per capita of a country in its own currency is 75,000 units. If one US dollar is worth 20 units of its currency, the income per capita of the country in dollars is ________
A) $1,850 B) $15,000 C) $3,750 D) $2,500
C
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Which of the following is NOT true of a fixed payment loan?
A) The borrower is required to make regular periodic payments to the lender. B) The payments made by the borrower include both interest and principal. C) The borrower is left with a substantial unpaid principal at the maturity of the loan. D) A home mortgage is an example of fixed payment loan.
This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.If the players in the figure shown act in their own self-interest, then we know that Sarah will earn utility of:
A. 7. B. 6. C. 10. D. 15.
In an attempt to reduce the poverty rate, there has recently been a movement away from income maintenance programs to
A) Supplemental Security Income programs. B) reducing the age a person can retire at. C) encouraging people to get jobs. D) incorporating the Lorenz policy in decisions.
If taxes were a lump-sum amount, then the magnitude of the government spending multiplier ________ it would be if taxes depend on income.
A. is equal to what B. is larger than C. is smaller than D. could be either larger than or smaller than