Suppose Montesia, with a per capita GDP of $100,000 . grows at a rate of 3% per year and Argonia, with a per capita GDP of $2,000 . grows at a rate of 8% per year. The gap between the per capita GDPs of Argonia and Montesia will be _____ after 2 years
a. $103,680
b. $25,897
c. $562,320
d. $35,365
a
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The payments in return for labor and capital are _____, respectively.
a. ?profit and rent b. ?rent and wages c. ?interest and profit d. ?wages and interest e. ?profit and wages
Releasing more information, in a common-value auction is
a. Good for the bidders because it reduces the risk that they face b. Good for the auctioneer because it attracts more bidders c. Good for the bidders because they are less likely to bid more on the item than it's worth d. Both A&B
Most of the U.S. national debt is owed to
a. insurance companies. b. foreign and international institutions. c. private investors. d. Federal Reserve banks and government agencies.
In 2012, federal expenditures on income transfers, health care, national defense, and interest on the national debt accounted for
a. less than 20 percent of federal spending. b. about 40 percent of federal spending. c. approximately 50 percent of federal spending. d. more than 85 percent of federal spending.