Which of the following statements is correct?
A. From the bank’s point of view, loans to customers are assets of the bank.
B. From the bank’s point of view, loans to customers are liabilities of the bank.
C. From the customer’s point of view, loans to customers are assets of the customer.
D. From the customer’s point of view, loans to customers are liabilities of the customer.
E. a and b only
F. a and d only
Answer: F
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The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
For Bagel World, ________ is a ________.
A. abiding by the agreement; dominant strategy when Bagels'R'Us also abides B. abiding by the agreement; dominant strategy C. cheating on the agreement; dominant strategy D. cheating on the agreement; dominated strategy
How can an increase in human capital lead to an increase in GDP? Why might it not lead to an increase in GDP?
What will be an ideal response?
To model the input decisions for a production system, we plot labor on the horizontal axis and capital on the vertical axis. In the short run, labor is a variable input and capital is fixed
The short-run expansion path for this production system is: A) a vertical line. B) a horizontal line. C) equal to the 45-degree line from the origin. D) not defined.
Which of the following is a principle concerning how people interact?
a. Markets are usually a good way to organize economic activity. b. Rational people think at the margin. c. People respond to incentives. d. All of the above are correct.