Which country will most likely have the fastest economic growth?
a. Country A does not offer public education for children over the age of 10.
b. Country B’s government encourages citizens to save and invest a portion of their incomes.
c. Country C frequently goes to war with its neighbors in the hopes of acquiring more land.
d. Country D’s government has not repaired any of its roads in over a decade.
b. Country B’s government encourages citizens to save and invest a portion of their incomes.
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Between two indifference curves, the one on the right indicates:
A) the same level of utility as the one on the left. B) the same bundle of goods as the one on the left. C) a higher level of utility than the one on the left. D) a lower level of consumer income than the one on the left.
In 2006, the Bank of Japan adopted a policy framework focusing on
A) expected inflation one to two years in the future. B) current inflation. C) maintaining a fixed exchange rate. D) the growth in the money supply.
We assume leisure is a normal good. This implies that
A) an increase in taxes decreases the demand for leisure. B) households maximize utility. C) preferences over consumption are well defined. D) an increase in the wage increases demand for leisure.
Asymmetric information exists when both sides of a market approach perfect information
a. True b. False